Starwood sneaks in non-QM pricing ahead of holiday shutdown
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.
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