RBS Securities and Wells Fargo plan to issue a $796.9 million CMBS conduit deal dubbed WFRBS 2013-C17.
The deal has been assigned preliminary ratings by Fitch Ratings, Moody’s Investors Service and DBRS. The triple-A rated class A notes are structured with 30% credit enhancement.
The class A-1 notes are structured with a weighted average life of 2.56-years; the class A-2 notes are structured with a weighted average life of 4.87-years; the class A-3 notes are structured with a weighted average life of 9.86-years; the class A-4 notes are structured with a weighted average life of 9.91-years; and the class A-SB notes are structured with a weighted average life of 7.46-years.
The 10-year, class A-S notes are rated triple-A and have 21.875% credit enhancement. The structure also offers double-A rated B notes with a weighted average life of 10-years and single-A rated, 10-year C notes.
Pricing on the deal is expected for the end of this week or early next week, according to a deal term sheet filed with the US Securities and Exchange Commission.
