Morgan Stanley and Bank of America Merrill Lynch issued a $1.13 billion conduit, series 2013-C8 on Tuesday afternoon.

The CMBS conduit transaction is collateralized by 54 fixed rate commercial morthahe loans that are secured by 62 properties

Kroll Bond Rating Agency, Fitch Ratings and Standard & Poor’s  assigned preliminary ratings to the deal. The $75 million, ‘AAA’ rated, three-year notes priced at 24 basis points; the ‘AAA’, 5-year notes priced at 45 basis points; the ‘AAA’ 7-year notes priced at 65 basis points, the ‘AAA’, 10-year A4 notes priced at 72 basis points and the ‘AAA’, 10-year AS notes priced at 95 basis points. 

The ‘AA-’, 10-year, B class priced at 125 basis points; and  the ‘A-‘ 10 year, C notes priced at 175 basis points.

The conduit launched its 10-year, ‘AAA’ notes and  AS, ‘AAA’-rated notes, equal to similar classes in the last conduit deal to price, WFRBS 2013-C11 on Jan. 28.  Analysts at S&P noted that the relatively tight pricing for new issue CMBS is a near-term positive for loan origination volume. 

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