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.  


Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.