No pricing clarity after CMBS pair price

By Max Adams
14 Sep 2015

Bank of America and UBS priced BACM 2015-UBS7 Monday afternoon, just ahead of the launch of Citi and Goldman Sachs’ CGCMT 2015-GC33, though investors say the considerable difference in the pricing of the deals’ super senior triple-A bonds failed to provide a hint on where spreads may head for the rest of the month.

BAML and UBS tightened most classes of their deal from guidance issued last week, pricing the $229.9m benchmark A4 class at 117bp over swaps from guidance of 120bp-122bp over swaps. Citi and Goldman ...

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