LoanCore prices jumbo $1bn CRE CLO

LoanCore Capital priced the largest commercial real estate CLO of the year on Friday, selling the $1.05bn LNCR 2018-CRE1 via lead arrangers Goldman Sachs and Morgan Stanley, and co-managers Wells Fargo and Jefferies.

  • By Max Adams
  • 21 May 2018
LoanCore sold the senior notes, rated triple-A by Kroll Bond Rating Agency and Moody’s, at 113bp over one month Libor. The rest of the offered classes were priced from 150bp-295bp over the benchmark (for full pricing, see GlobalCapital’s US priced deals database). The deal is a managed transaction, ...

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2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

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3 Wells Fargo Securities 25,325.15 70 8.95%
4 Bank of America Merrill Lynch 23,157.33 74 8.18%
5 Barclays 17,494.57 59 6.18%