Deutsche Bank

The loan covering single-tenant distribution/fulfillment centers is the largest obligation in the transaction being rated by four agencies.

The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.

Greenworks CEO Jessica Bailey said execution was good enough that it made economic sense; the company also wanted an early reading from rating agencies and investors.

Collateral for the deal, which is structured as a master trust, can reach €30B of loans originated by the bank's building-savings affiliate, its retail operations and its private-bank unit.

The accord is the latest development in investigations by governments across the globe into banks’ manipulation of benchmark interest rates.

After downgrading Deutsche's issuer default ratings last week, the rating agency now wants the German lender to post additional collateral to be considered an eligible swaps counterparty.