First STS deal receives IPTs as two new CMBS deals announced

The first deal to qualify for the ‘simple, transparent and standardised’ (STS) label, VCL 28 - German Auto Lease ABS, has seen initial price thoughts released at mid-20bp plus one month Euribor for the triple-A rated class ‘A’ tranche and 70bp-75bp plus one month Euribor for the class ‘B’ tranche.