Starwood sneaks in non-QM pricing ahead of holiday shutdown

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By Max Adams
03 Jul 2019

Starwood Capital sold $519m worth of non-qualifying mortgage bonds on Wednesday morning, getting the deal off ahead of the July 4 holiday weekend.

The private equity firm priced the senior class ‘A-1’ notes at 105bp over interpolated swaps. The four subordinate tranches were priced at 125bp, 140bp, 200bp and 300bp over IS.

Credit Suisseand Deutsche Bankwere the arranging banks on the transaction.

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