The primary market for commercial bonds is off to a busy start for the month with three conduit deals totaling more than $3 billion making the rounds.

Morgan Stanley and Bank of America are marketing a $933 million of securities via Morgan Stanley Bank of America Merrill Lynch Trust (MSBAM) 2015-C23. Early talk indicates that the deal, which is being rated by Moody’s Investors Service, Fitch Ratings and DBRS, will price in line with prior deals.

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