Goldman Sachs is marketing commercial U.K. mortgage bonds backed by a portfolio of distribution warehouses owned by Logicor, a portfolio company of the Blackstone Group L.P., according to presale reports from Moody’s Investors Service and Fitch Ratings

The £680 million ($1.05 billion) transaction, Logistics UK 2015 PLC, offers £312.6 million of class A notes that are rated ‘AAA’/’Aaa’ by Fitch and Moody’s, respectively, and benefit from 51.6% credit enhancement. The deal also offers five subordinate tranches: £67.45 million class B notes rated ‘AA’/’Aa2,’ £67.45 million class C notes assigned ‘A’/’A2’ ratings, £60.8 million class D notes rated ‘BBB’/’Baa2,’ £76 million class E notes rated ‘BB-‘/’Ba2,’ and £61.75 million class F notes assigned ‘B’/’B1’ ratings.

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