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.

  • By Max Adams
  • 03 Jul 2019

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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4 Goldman Sachs 2,276 6 8.71
5 Bank of America Merrill Lynch (BAML) 2,086 9 7.98

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5 Credit Suisse 38,293.05 120 7.05%