Talisman-7 Finance, a company set up by ABN Amro Holding NV to issue commercial mortgage-backed bonds, said one of the loans behind a €1.82bn ($2.45bn) securitization is in default. “The Mozart borrowers’ agent has admitted that the Mozart obligors will be unable to pay their debts as they fall due,” Talisman-7 said in a statement distributed by the Irish Stock Exchange. Because of “actual financial difficulties it intends to suspend making payments on its debts,” it said. The Mozart loan is the biggest in the collateral pool, accounting for 57% of the deal’s assets, Moody’s Investors Service said April 16. The loan is secured by 102 properties in Germany with a current vacancy rate of 28%, Moody’s said when it cut €1.275bn of the most senior- ranked bonds in the deal six levels to A3 from its top Aaa.