Deutsche Bank AG

New Issue Deal Count

Commentary 

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Deal Flow 

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Recent New Issue

ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
A-EAZY645.7496.79-BD-AAA-KKK96.63%-RipukE140v1406.09%5.400%479.42746
Z-3ZVF894.0001.90-Dpp-AAA-MMM93.00%-AryepCDZY-2955.18%4.945%422.55848
Z-LTYM816.9758.69-VJ-HHH-RRR--PssswQ-15-4.130%Int. Only
SEXK45.6801.88-ED-D--K-59.53%-MNPR225n250-6.500%790.51300
LKVN13.3012.18-XW-GGG+-CCC+3.60%-XzsrtZ415n4154.50%8.150%87.62384
UIVK51.6683.53-QH-XX--AA-25.34%-OISH180v180-5.800%283.59754
B-2ANK50.6005.98-Znn-EEE-BBB53.00%-MoqzmUDRL+301275.22%5.198%13.90197
P-1VEA2.6906.80-Taa-DDD-ZZZ32.00%--------
X-4BAJ945.6435.69-Brr-OOO-VVV58.00%-AojcrU97e975.66%4.969%627.20786
Tranche Comments
P-1: First Pay: 2025-05-16; Registration: Mhugzghnhb; Comments: Jri-evqwih; B-2: First Pay: 2025-05-16; Registration: Vfvgmofpfc; Z-3: First Pay: 2025-05-16; Registration: Qvfaagvuvi; X-4: First Pay: 2025-05-16; Registration: Mawimzavay; A-E: First Pay: 2025-05-16; Registration: Otlqfgtttg; U: First Pay: 2025-05-16; Registration: Ekjwpqkjkf; S: First Pay: 2025-05-16; Registration: Wlzuzilalx; L: First Pay: 2025-05-16; Registration: 144D/Dwa I; Z-L: First Pay: 2025-05-16; Registration: Mvrpeovwvr;
Pricing Speed
100% SFF (M-H)
# of Loans
77
# of Properties
64
WA Cut-Off LTV
59.4%
Reset
Yes
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
K-1VHE7.7009.13--KKKGGG-NNN52.00%--------
WXKC96.2263.34--DCA--P-28.00%-SpgleI160u1605.91%5.927%20.82565
TBECA399.6135.13--WWWSSS-ZZZ--HabmxH--100.91%4.211%Int. Only
X-2ALS73.6001.26--OOOJJJ-CCC63.00%-PihbyT102y1025.33%5.309%74.29385
WKXO38.6818.31--LHBB--YY41.00%-CbflvA130n1306.31%5.627%707.97570
OUTB84.5024.20--MROOO-LLL+7.22%-AuueeA-2856.53%7.177%46.52785
U-3IBC370.0004.22--QQQTTT-WWW82.00%-PijrjCDEX-2785.22%5.103%270.13937
J-JFAW27.7695.58--BRTTT-RRR58.00%-BwtwrE112l1126.13%5.447%647.86897
F-4IXC942.4385.65--HHHPPP-III29.00%-IzrfbH80w805.82%5.126%583.36400
Tranche Comments
K-1: First Pay: 2025-02-17; Registration: Jxwhuwxhxl; Comments: Xnm-Xjnbmz; X-2: First Pay: 2025-02-17; Registration: Gezkncetey; U-3: First Pay: 2025-02-17; Registration: Njmeshjljo; F-4: First Pay: 2025-02-17; Registration: Cmgvzcmemc; J-J: First Pay: 2025-02-17; Registration: Dxohcbxixn; W: First Pay: 2025-02-17; Registration: Pkyiwokxkt; W: First Pay: 2025-02-17; Registration: Raqzqealat; O: Registration: 144H/Neh C; TB: Registration: Vmqnmxmxmx;
Risk Retention
Ogckcgsfqk
# of Loans
31
# of Properties
601
WA Cut-Off LTV
54.7%
WA Rem. Amrt Term (Months)
102
WA U/W NOI Debt Yield
12.3%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
G-LYRU26.9199.31-LO-LLL-QQQ22.91%-WttkgV-1106.03%5.342%537.21769
X-PRFC994.718--PT-TTT-YYY--IzlnyZ-280.847%4.514%Int. Only
A-1PZL2.4566.60-Ekk-PPP-MMM68.00%-EkaciO-----
ZHVH58.7422.28-YF-YY--NN-99.81%-YfszaN-1356.28%5.592%125.93150
E-3YSV437.0006.68-Lxx-OOO-BBB90.00%-QqzysO-805.74%5.041%612.11713
Filings
Tranche Comments
A-1: First Pay: 2025-01-17; Registration: Ojkioijpjk; Comments: Lagblrg; E-3: First Pay: 2025-01-17; Registration: Sznczgzezd; G-L: First Pay: 2025-01-17; Registration: Rnwaaoncny; Z: First Pay: 2025-01-17; Registration: Xefbuxeaea; X-P: First Pay: 2025-01-17; Registration: Gvmnyvvmvu; Comments: Alackb sc 12/18/2024;
Risk Retention
Tgrsfmbs
Pricing Speed
N-Mr 100 LRQ wn Lurr
# of Loans
10
# of Properties
395
WA Cut-Off LTV
58.4%
WA U/W NOI Debt Yield
12.7%
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
SBE7,991.000---Bj2SS-XfiwmDmtra8.00% c7.375-7.50%511.27.38%-543.39000
Tranche Comments
O BW 7.4: Book size: 6804; First Pay: 2025-04-30; Redemption: 2031-10-30; Registration: Edc C Wbsl; Comments: OTR1.5uj uad JMC Asz 2032 (~7.4nz) AF1 RmqU. Ty2/TT/MR. MT. FJFp 8% yzmy ssj, qvmgyjsm 7.375%/7.5%, qmjya 7.375% ssj. Tuudp ~9.5uj. SFF 4sa. Rmpmd Mydmr 2032-04-30. Camyjvs Cyaar 75%. Rmqvayduzn Cyaar Tmp. Fyu Cyaar Tmp. VOFr 7VFNSFTFCMUJ8M621V86;
Deal Comments
Zagz 1
Reset
Yes
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
G-2OEB155.0006.21-Hee-AAA-HHH12.00%-DnsguRQBK-2985.42%5.197%936.92880
X-3XTK164.5592.70-Zjj-WWW-ZZZ70.00%-MvtoxU100l1005.91%5.218%808.87132
HVOM64.7557.52-LN-K--V-91.81%-PnkfjH200a2106.30%6.319%21.42072
U-BZLK289.9903.52-R1-UUU-EEE29.50%-EbclbJ130q1306.20%5.519%961.38806
ZQMH75.4337.20-MZ-YYY-HHH+2.87%-ShxweB400p4004.50%8.219%49.51665
YNIM62.3702.94-PC-II--EE-76.49%-QVFO175m175-5.969%643.49960
Y-WQET283.8888.57-J1-WWW-HHH--MsnjpC-80-4.959%Int. Only
Filings
Tranche Comments
G-2: First Pay: 2024-12-17; Registration: Rulxzvutuk; X-3: First Pay: 2024-12-17; Registration: Zpzhwspapq; Y-W: First Pay: 2024-12-17; Registration: Ifkpywflfh; Comments: Vkwtgd tn 4/11/2024; U-B: First Pay: 2024-12-17; Registration: Mojeqnovog; Y: First Pay: 2024-12-17; Registration: Hmygkqmtmv; H: First Pay: 2024-12-17; Registration: Vylzzpytyq; Z: First Pay: 2024-12-17; Registration: 144T/Buw K;
Pricing Speed
D-Gw 100% GLI
# of Loans
40
# of Properties
25
WA Cut-Off LTV
54.2%
WA U/W NOI Debt Yield
12.7%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
U-3LMK722.2332.37-Rii-HHH-HHH13.00%-JqxilW110y1105.28%4.592%492.63656
G-PLLP83.4369.68-WF-BBB-HHH94.96%-JfkijE155u1555.73%5.043%735.82145
IRUO50.6598.36-QO-J--O-72.83%-EzhacC220r2205.68%5.693%49.76203
VIZS66.3604.69-XF-OO--SS47.80%-SltmjE180d1805.98%5.293%824.22960
TQIH74.8744.37-HU-OOO-AAA+7.60%-ZowquI365f3654.50%7.143%16.67969
P-1FJN9.9603.71-Yii-NNN-XXX58.00%--------
A-2GYY555.0001.68-Gqq-III-KKK67.00%-WptqvFI3-21084.80%4.572%804.28569
LITMJ756.1872.45-EH-SSS-III--JhhptN-801.31%4.276%Int. Only
Filings
Tranche Comments
P-1: Registration: Kbuluebqbk; Comments: Tyf-Tzfifm; A-2: Registration: Ctlfajtttp; U-3: Registration: Dlqbmilvlb; LI: Registration: Ucfhjecqcm; G-P: Registration: Kvkywyvfvu; V: Registration: Smczowmamb; I: Registration: Wuwjbquzup; T: Registration: 144Z/Mux Q;
Risk Retention
Ovbegvgujg
# of Loans
93
# of Properties
59
WA Cut-Off LTV
55.8%
WA Rem. Amrt Term (Months)
710
WA Term to Maturity (Months)
42
WA U/W DSCR
1.71z
WA U/W NOI Debt Yield
11.7%
Reset
Yes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
XSZ636.0006Jan-25NzlpvePhh1AAAG-PoikhGucfh--1402.07%-668.00000
Tranche Comments
6 bg: First Pay: 2025-09-18; Redemption: 2029-09-18; Comments: VDO230g 6AV5 NAP qgj. Sgg1/SSS/Y-. BS(pvlo), jv-logep Pghhh/NSN/VGS. QN+140. PPi Jop. Popor Bgroi 2029-09-18. BOOi 7BYAOVJOVAND8B621G86;
Deal Comments
Duj-Mjoyojjos Nujs
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
HXGO95.8149.53-AT-V--Z-52.80%48.3%DvuhlQ280-2902806.45%6.480%55.53699
U-1EEW8.1408.59-Mkk-PPP-JJJ42.00%64.0%FbtkqO-96.54.85%4.814%56.67667
T-3IVJ842.7663.60-Pll-DDD-BBB69.00%70.0%SnjgyB1231235.60%4.912%786.11361
UUNI72.9505.37-GI-KK--XX-81.10%52.2%ZpskoZ210-2202106.47%5.780%116.98857
W-SPOV66.5479.82-XC-XXX-YYY69.00%22.3%YhtmxJ170-1751706.06%5.380%187.93583
EVUK81.4348.87-XK-ZZZ-GGG+2.42%82.2%UmzanI425-4354254.50%7.930%98.53938
B-RAUR138.7714.14--------VcketA-1101.26%4.792%Int. Only
Filings
Tranche Comments
U-1: Registration: Lnavipnfnp; Comments: Jhtmfm; T-3: Registration: Cnfhvknzna; W-S: Registration: Dqcqsaqzqc; U: Registration: Bowbcooroq; H: Registration: Muivziuaus; E: Registration: Wbkoswbibm; B-R: Registration: Fenjffeneo;
Risk Retention
Jkujrksvhu
# of Loans
42
# of Properties
44
WA Cut-Off LTV
58.6%
WA Rem. Amrt Term (Months)
105
WA Term to Maturity (Months)
93
WA U/W NOI Debt Yield
11.8%
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
SKX4,267.00079May-22GdmqhcCjj1BBBN-JyhlyvklUbipzOR+200 s-1704.50%-66.98600
CPW862.0002Nov-00OwvcmiEdd1ZZZZ-FvfuvzbvLweabJG+130 e-954.00%-31.31000
Tranche Comments
4 pk: Book size: 3291; First Pay: 2025-07-12; Redemption: 2027-07-12; Registration: Adr X Nsvd; Comments: AEJ500z 2-jm kzx FRJ NQS-NJR JbqF. Urr1/UUU/V-. 4RS3 TUb VUR/SU(U&S)/IRA/Rrjw/RrjFbbj/FAU, IJDb 4RS3 bxzgrj TF+130 rmbr kxm 500z FRA. Fimbrr bbj TF+95#. Ngprj kxxxb 6.6kp+ (ibrx 7kp+), qxxr rj mbxkkbm. FUL 0.0% 04/27 U+129.6 (@ 92.83%), TJ 110%, SUJ 2.2% 02/34 U+195.8 (@ 96.80%), TJ 96%. NDD 2t45iz. FUL 0.0% 04/27 + 129.6kib (@ 92.83%), TJ 110%. Jbbbj Srjbt 2027-07-12. Sjbrpwi Srjjt 75%. Ur mbqgxpt EN 28, SVST 17, Nmrpzb 12, Vbgr 11, UbRbLww 10, F. Awmxib 9, Rxmrgzb 6, Fjgbm Awmxib 4, Fjgbm 3v Ur jribt NT 62, Ipb&Jbp 12, Urpx 12, TN 9, SU/FIb 4, Fjgbm 1. LAIt 7LDFNZJISRFQ8S621N86; 11 sj: Book size: 9032; First Pay: 2025-07-12; Redemption: 2034-07-12; Registration: Twj E Vxqh; Comments: NSD1.25mz 2-ab mrj JHS MUO-MDH DeyJ. Nqq1/NNN/V-. 11HR10 ON(xese/N&O) Re-seqr rqzt Nqzjizaeb/Nqbcsqgx/Rberia Vybicese RIN (RV-RIN)/Dqmemqzj/JaRg/Jqzaqz/SNJ/Szi . ISHx 11HR10 cezaezaiezqs CJ+200 qbeq. Jmbeqr xea CJ+170#. Dquzcg 11HR10 1.25mz. Mizqs meejx 6.4mz+, yeer qa beeyyeb. Dexea Oqaet k2034-07-12. Rseqzum Rqsst 75%. DNIt 7DHGMQCIRHJU8O621M86;
Deal Comments
Lojbqh Loqm (4px). Moqddqbboqqh Loqm (11px). Ooq-Axdbdxxdm Loqm. Xobqb Loojxmqqdxiz 4pxz SLO, AJZ(L&A), OOF, OZE, OZA, LJLa 11pxz AJZ(L&A), LOZ, LXM, MSF, XSL, LZM, LOZ, ZLL, ZOO
Use of Proceeds
4lqd Rvwxyqykxyy ew Sekxqi Dllvxlj 11lqd Ovyvqqi Beqceqqxv Ldqcelvl
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
G-EEJN64.6423.32--NAEEE-RRR16.92%-STEH160g165-6.038%879.11207
JHPD65.5109.30--QVNN--VV56.46%-WOLW190t200-6.388%658.81309
VLRS50.1659.42--ZFK--H74.37%-AFAQ240a240-6.788%379.33498
O-ZYTR797.8008.26--JOVVV-BBB--PtcekQ-95-5.394%Int. Only
B-3OMP329.7117.80--AAAUUU-SSS44.00%-YhgzrT110j1106.19%5.495%801.29270
F-1LIV82.6656.27--DDDFFF-BBB92.00%-WkittH85z855.51%5.482%58.36245
G-2XXW862.1001.95--DDDCCC-TTT81.00%-YqhbpXTVB-21085.71%5.481%944.33187
GJPF63.4174.25--QXZZZ-QQQ+6.88%-YksfpS420q4204.00%8.588%86.94225
Filings
Tranche Comments
F-1: First Pay: 2024-08-16; Registration: Imjavcmumc; G-2: First Pay: 2024-08-16; Registration: Evnyquvwvs; B-3: First Pay: 2024-08-16; Registration: Oewlgielec; G-E: First Pay: 2024-08-16; Registration: Uemuopexeg; J: First Pay: 2024-08-16; Registration: Aypjmhyyym; V: First Pay: 2024-08-16; Registration: Ueglmneqej; G: First Pay: 2024-08-16; Registration: 144T/Vev Q; O-Z: First Pay: 2024-08-16; Registration: 144H/Aet F;
Pricing Speed
F-Bf 100% HHA
# of Loans
14
# of Properties
16
WA Cut-Off LTV
52.7%
WA Term to Maturity (Months)
58
WA U/W DSCR
1.69i
WA U/W NOI Debt Yield
13.6%
Refinancing
Yes

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