What began as a relatively slow week turned into a melee of transactions last week, as several deals popped into the pipeline Wednesday and priced before Thursday's market close. Of note, real estate ABS - with $9.8 billion priced or marketing - has regained its status as the predominant asset class, following a slight break in pace.
AmeriQuest Mortgage priced a $974.4 million series 2004-R5 transaction via Banc of America Securities, Credit Suisse First Boston and Deutsche Bank Securities. The three-year triple-A rated A3 notes priced at 27 basis points over one-month Libor, wider than guidance in the mid-20 basis point area. Also of note, the triple-B rated subs cleared at 245 basis points over Libor, in line with guidance.