Not many waves, just quiet ripples last week as the European securitization market continued to price a number of deals while offering promise of more to come; clearly March has seen more deals launch and price than the first two months of the year put together.

On the pricing end, French CMBS France Industrial Properties No.1 S.A,. issued by ProLogis European Property Fund, was being sold last week. The two tranches of floating-rate notes were expected to go quickly based on the fact that investors seldom have the opportunity to get their hands on French commercial mortgages. Societe Generale (SG) managed the deal.

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