Price talk has been established on a $997.9 million of commercial mortgage bonds being offered by Goldman Sachs, Citigroup and Jefferies.
The transaction, GSMS 2013-GCJ16, is collateralized by 78 fixed-rate commercial mortgage loans that are secured by 134 commercial properties. It includes five classes of notes with credit enhancement of 30% and triple-A ratings from Kroll Bond Ratings, DBRS and Moody’s Investors Service.
Price talk on a $52 million tranche with a weighted average life (WAL) of 2.65-years is for a spread of 55-60 basis points over swaps, according to a regulatory filing.
A $231 million class with a WAL of 4.85-years is talked at swaps plus 80-85 basis points;
A $105 million class with a WAL of 9.81 years is talked at four basis points through another class with a WAL of 9.86 years.
A $326.5 million class with a WAL of 9.86-years is talked at swaps plus 95-100 basis points;
A $77.76 million class with a WAL of 7.44 years is talked at swaps plus 85-90 basis points.
Final pricing is expected sometime this week.