A $1.4 billion CMBS deal for General Electric was launched last week by Donaldson, Lufkin and Jenrette and Goldman Sachs, sources say. The eight-tranched deal was comprised of two triple-A pieces, two double-A pieces, two single-A pieces and two triple-B pieces. The collateral was made up of all commercial loans, 45% of which came from GE, 37% from DLJ and 17% from Archon, an affiliate of Goldman Sachs. The transaction had not priced at press time.
According to one market source, the offering is the largest CMBS deal that GE has ever done, and is made up of 292 loans.