Deutsche Bank launched a 680 million ($849 million) German commercial mortage bond securitization, Deco 2014-Bonn, acccording to an offering document.
The deal is backed by a single loan that in turn is backed by 29 properties, primarily office buildings, located throughout Germany.
There is no roadshow schedule, but closing is expected in mid-December. Deutsche Bank will act as the sole structuring agent on the deal and is co-lead manager along with Bank of America Merrill Lynch.
The securitization trust will issue 330 million of 4.7-year class A notes. The rest of the bonds including 50 million of class B notes, 77 million of class C notes, 92 million of class D notes, 89 million of class E notes, and 41 million of class F notes, have a weighted average life of five years.
Fitch Ratings and Standard & Poor’s are expected to rate the deal.
