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Tuesday, 05 December 2017

INITIAL PRICING: Bank of America Merrill Lynch Commercial Mortgage Trust, 2017-BNK9

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Class Amt
Life (yrs)
Yield% Final
Pricing (bp)
A-1 26.28 30.00 2.78 AAA AAA Aaa 99.999 2.300 +22 swaps
A-2 27.10 30.00 4.95 AAA AAA Aaa 99.996 2.759 +55 swaps
A-SB 39.69 30.00 7.44 AAA AAA Aaa 103.000 3.017 +71 swaps
A-3 300.00 30.00 9.81 AAA AAA Aaa 100.994 3.166 +79 swaps
A-4 307.66 30.00 9.92 AAA AAA Aaa 103.000 3.190 +81 swaps
A-S 41.29 23.875 9.99 AAA AAA Aa2 102.992 3.482 +110 swaps
B 82.59 16.625 9.99 AA- AA NR 102.997 3.682 +130 swaps
C 51.30 12.125 9.99 A- A- NR 101.327 4.132 +175 swaps
D 47.55 6.875 10.00 BBB- BBB- NR   5.882 +350 swaps
E 21.27 4.25 10.24 BB+ BB- NR       Treas
F 15.02 3.25 10.25 B+ B- NR       Treas
G 41.29 0.00 11.25 NR NR NR       Treas
X-A 700.73* NA NA AAA AAA Aaa       Treas
X-B 175.18* NA NA A- AAA NR       Treas
X-D 47.55* NA NA BBB- BBB- NR       Treas
X-E 21.27* NA NA BB+ BB- NR       Treas
X-F 15.02* NA NA B+ B- NR       Treas
X-G 41.29* NA NA NR NR NR       Treas

*Notional amount, interest only

Pricing Date: 4 December, 2017

Collateral balance: $1,053.73 million

Trepp/BBG Ticker: BANK 2017-BNK9

Bookrunner(s): BofA Merrill Lynch (36.4 percent), Morgan Stanley (35.4 percent of deal balance), Wells Fargo Securities (28.2 percent)

Lead Managers: Morgan Stanley, BofAMerrill Lynch, Wells Fargo Securities

Co-managers: Drexel Hamilton

B-Piece Buyer: RREF III Debt AIV LP (Rialto Capital Advisors)

Risk Retention Type: Vertical

Vertical Size, Holder: 5 percent/Morgan Stanley, BofA Merrill Lynch, Wells Fargo Bank

Horizontal Size, Holder: NA

Risk Retention Consultation Party: Bank of America

Master Servicer: Wells Fargo Bank

Special Servicer: Rialto Capital Advisors

Certificate Administrator: Wells Fargo Bank

Trustee: Wilmington Trust

Operating Adviser: Park Bridge Lender Services

Asset Representations Reviewer: Park Bridge Lender Services

Originators: Bank of America (36.4 percent of pool balance), Morgan Stanley (34.45 percent), Wells Fargo Bank (29.15 percent), National Cooperative Bank (2.5 percent)

Number of Loans/Properties: 45.89

Top-10 Concentration: 63.6 percent

Property Types: Office (32.1 percent of pool balance), retail (28.6 percent), hotels (22.1 percent), industrial (8.5 percent), multifamily (4 percent), other (1.8 percent), mixed use...


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Additional Info

  • Syndicate to Realpoint: No
  • Subject: CMBS Pricing (PRICE)
  • Deal Name: Bank of America Merrill Lynch Commercial Mortgage Trust, 2017-BNK9
  • Private: Yes
  • bloombergDealName: BANK 2017-BNK9
Read 817 times Last modified on Monday, 11 December 2017

Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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