The $375 million One Park Avenue pari-passu loan securitized in BACM 2007-2 and BACM 2007-3 is expected to pay off at par. This effectively extends the unscheduled principal payment to these conduits deals' short-dated tranches, according Barclays Capital analysts.

The original $375 million pari-passu structure is anticipated to pay down at par as early as the next remittance period. It is also likely that the prepayment covenants will be waived.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.