Morgan Stanley and Bank of America Merrill Lynch are selling a $1.55 billion commercial mortgage-backed security (CMBS), The Wall Street Journal reports. The $597.15 million triple-A rated portion of the transaction, maturing in 4.8 years, was priced at a spread of 115 basis points.
The $85.2 million portion of the offering was priced at a spread of 200 basis points, adds Everything Gold. The pricing on the first few CMBS deals of the year was set by a $2.2 billion CMBS from Deutsche Bank and UBS.
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