Gagfah’s jumbo €2bn CMBS prices wide of initial guidance at bottom of cap stack

Leads have successfully priced Gagfah’s €2bn GRF German multi-family CMBS after putting extra spread on the table for investors in the class ‘D’ and ‘E’ tranches to allay concerns about widening CMBS secondary spreads.

  • By Toby Fildes
  • 13 Jun 2013

Final pricing for the top three tranches of the capital structure remained unchanged from initial guidance. The €1.24bn ‘A’ tranche was priced at 115bp over three month Euribor, the €239.8m ‘B’ tranche was priced at 160bp over and the €137.1m ‘C’ tranche was priced at 210bp over.

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