Wells Fargo and RBS priced WFRBS Commercial Mortgage Trust 2013-C12, a $1.2 billion conduit backed by 100 commercial mortgage loans secured by 138 properties.
The deal brings the year-to-date issuance total $19.2 billion, including $11.8 billion of conduits, according to figures reported by Credit Suisse.
Analysts at the bank said in a securitization report today that most notes priced in-line with guidance. The 2.67-year, ‘AAA’ notes priced at 25 basis points; the 4.87 year, ‘AAA’ notes priced at 50 basis points; and the 9.92 year ‘AAA’ notes priced at 85 basis points, 3 basis points tighter than WFRBS Commercial Mortgage Trust 2013-C12.
The lastest deal priced the ‘AA-‘, 10-year notes at 150 basis points and the the ‘A-‘ 10-year notes at 200 basis points. The ‘BBB’ notes issued from the capital structure priced 15 basis points tighter than the issuers’ last print at 375 basis points, according to Credit Suisse.
Analysts said that the pace of conduit issuance looks poised to slow over the rest of the quarter with only two deals, about $2.6 billion, anticipated before quarter-end.