The April 26 sale of Maiden Lane III (ML III) assets caused some disruption in CMBS spreads.

Deutsche Bank Securities and Barclays Capital won the bidding process, which was conducted by the Federal Reserve Bank of New York. The two banks now own the roughly $7.5 billion of super-senior CRE CDO bonds that include the entirety of MAX 2007-1 and 2008-1 A1s, which were part of ML III.

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