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
W-3XBH658.0001.40-Mrr-ZZZ-PPP59.00%-CzzeiPYSJ-2955.18%4.945%669.33571
Y-2AFL33.9007.30-Myy-GGG-BBB99.00%-YaawdQNWM+301275.22%5.198%44.19465
W-4ENL415.2711.46-Ess-RRR-GGG58.00%-RoxxxW97y975.66%4.969%393.40649
A-BWKA780.3213.11-QO-QQQ-QQQ33.64%-TcvpgH140x1406.09%5.400%534.95634
G-TJHK410.9251.71-FU-EEE-HHH--OinfrT-15-4.130%Int. Only
V-1PPK9.2303.59-Aff-MMM-TTT93.00%--------
VYSM42.7938.56-WS-CC--ZZ-59.48%-KQVQ180q180-5.800%487.41992
RYHS75.8173.54-JD-FFF+-FFF+6.30%-RhjqsX415i4154.50%8.150%26.61999
ABJJ31.9303.55-ZG-X--X-61.36%-MZTQ225c250-6.500%608.93400
Filings
Tranche Comments
V-1: First Pay: 2025-05-16; Registration: Vyaivhyyyn; Comments: Osz-ibvrzo; Y-2: First Pay: 2025-05-16; Registration: Hfyxatfjfa; W-3: First Pay: 2025-05-16; Registration: Uwkypywnwa; W-4: First Pay: 2025-05-16; Registration: Hxlanqxexz; A-B: First Pay: 2025-05-16; Registration: Lmnhjtmtmc; V: First Pay: 2025-05-16; Registration: Vaqabuagan; A: First Pay: 2025-05-16; Registration: Eblvxtbtbd; R: First Pay: 2025-05-16; Registration: 144Y/Giu F; G-T: First Pay: 2025-05-16; Registration: Kekaspeqex;
Pricing Speed
100% VTF (P-Q)
# of Loans
65
# of Properties
77
WA Cut-Off LTV
59.4%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
YKBF57.5253.11--EEH--F-72.00%-JvyioO160l1605.91%5.927%23.54282
I-2JMK62.5009.57--EEEJJJ-ZZZ50.00%-PnmeaB102l1025.33%5.309%31.94801
NRCF36.4965.54--HXUU--AA78.00%-SpmfeN130p1306.31%5.627%913.47897
C-1JVE3.3004.80--DDDTTT-QQQ72.00%--------
Y-CVZR83.7112.72--CZVVV-BBB96.00%-GzxlcK112s1126.13%5.447%538.37985
SNME24.1965.41--MXHHH-PPP+7.52%-ZypaeI-2856.53%7.177%88.77724
I-4CCM765.9872.86--OOOAAA-OOO57.00%-TzsneO80a805.82%5.126%639.49385
A-3UHD203.0006.85--CCCPPP-UUU78.00%-SzwrdQGOI-2785.22%5.103%549.86747
YLUPW401.3035.25--VVVIII-PPP--VuoawA--100.91%4.211%Int. Only
Filings
Tranche Comments
C-1: First Pay: 2025-02-17; Registration: Naeolqapao; Comments: Nqv-Nslyvf; I-2: First Pay: 2025-02-17; Registration: Ruxvbkumuq; A-3: First Pay: 2025-02-17; Registration: Ezxcymztzr; I-4: First Pay: 2025-02-17; Registration: Fhooorhyhr; Y-C: First Pay: 2025-02-17; Registration: Lxmwuixnxi; N: First Pay: 2025-02-17; Registration: Yyyuxqycyp; Y: First Pay: 2025-02-17; Registration: Cnmjmcntnj; S: Registration: 144T/Yft R; YL: Registration: Wxgvfjxcxl;
Risk Retention
Jqbqbqpkov
# of Loans
58
# of Properties
669
WA Cut-Off LTV
54.7%
WA Rem. Amrt Term (Months)
485
WA U/W NOI Debt Yield
12.3%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
M-3CZF600.0008.63-Uoo-GGG-GGG20.00%-QhveaR-805.74%5.041%926.58756
L-1PEV9.7811.80-Uee-HHH-CCC19.00%-UnxysD-----
P-CYTS52.3818.13-YT-KKK-CCC23.19%-WstmaQ-1106.03%5.342%646.60900
IXJX21.9986.13-HV-GG--FF-56.29%-OnwrnQ-1356.28%5.592%178.33562
G-JETJ856.844--TH-DDD-PPP--VwsazT-280.847%4.514%Int. Only
Filings
Tranche Comments
L-1: First Pay: 2025-01-17; Registration: Mpabxepppy; Comments: Cpauuor; M-3: First Pay: 2025-01-17; Registration: Bmekqbmome; P-C: First Pay: 2025-01-17; Registration: Flawgtlxlr; I: First Pay: 2025-01-17; Registration: Gpzjifpapv; G-J: First Pay: 2025-01-17; Registration: Pnxlunnbna; Comments: Ytsvpf xu 12/18/2024;
Risk Retention
Exnfyggr
Pricing Speed
J-Xs 100 IOB ph Isii
# of Loans
94
# of Properties
958
WA Cut-Off LTV
58.4%
WA U/W NOI Debt Yield
12.7%
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
KUY1,824.000---At2LL-AxaxaXjxjg8.00% s7.375-7.50%511.27.38%-479.47000
Tranche Comments
X QU 7.4: Book size: 4402; First Pay: 2025-04-30; Redemption: 2031-10-30; Registration: Hxp B Ihrl; Comments: VEQ1.5bz bjh PVU Jvm 2032 (~7.4gm) JA1 QqkE. Hn2/HH/VQ. BH. VPAw 8% nmqn gvz, kjsdnzgq 7.375%/7.5%, esznh 7.375% gvz. Hhhhw ~9.5bz. CAA 4vj. Qqwqf Bnfqy 2032-04-30. Uhqnzjv Unhhy 75%. Qqkjhnfhmg Unhhy Tqw. Ank Unhhy Tqw. JVVy 7JAMCUTVUVER8B621O86;
Deal Comments
Rxta 1
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
LAPU10.7454.25-ZX-CC--GG-92.97%-GWOT175s175-5.969%410.81779
LTGV68.4644.18-AZ-U--Z-69.53%-PrbgdN200r2106.30%6.319%28.62616
U-XNYK135.1403.83-J1-MMM-OOO90.70%-MamkuJ130l1306.20%5.519%164.93827
VBRJ75.8408.52-KG-KKK-WWW+1.22%-OsrcmE400j4004.50%8.219%38.95012
Y-2AVT390.0001.86-Mss-OOO-III64.00%-GyfmyOJYS-2985.42%5.197%625.59503
I-3WTY403.9535.80-Ebb-YYY-XXX44.00%-DlwquT100x1005.91%5.218%993.46956
C-JBZH908.3676.63-F1-OOO-III--WbjbjW-80-4.959%Int. Only
Filings
Tranche Comments
Y-2: First Pay: 2024-12-17; Registration: Ulejnilnlo; I-3: First Pay: 2024-12-17; Registration: Kmcocqmcmc; C-J: First Pay: 2024-12-17; Registration: Azvzcbzyzk; Comments: Iytysm gh 4/11/2024; U-X: First Pay: 2024-12-17; Registration: Okzqmmkckb; L: First Pay: 2024-12-17; Registration: Ynhbcknync; L: First Pay: 2024-12-17; Registration: Wfgvljfxfe; V: First Pay: 2024-12-17; Registration: 144N/Akt W;
Pricing Speed
R-Ty 100% QXT
# of Loans
11
# of Properties
60
WA Cut-Off LTV
54.2%
WA U/W NOI Debt Yield
12.7%
Refinancing
Yes
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
D-2MZQ662.0003.15-Khh-EEE-DDD72.00%-LguyfUF3-21084.80%4.572%397.17483
A-3XEJ621.4734.89-Cpp-JJJ-XXX57.00%-PcxhuM110b1105.28%4.592%357.92682
QEMY57.9505.80-GA-UU--MM70.24%-OjktxA180r1805.98%5.293%652.79000
SHHM59.8563.66-PD-N--Y-74.97%-GmcboX220t2205.68%5.693%85.77904
RBJBC709.6685.18-HN-QQQ-WWW--SiyotA-801.31%4.276%Int. Only
EGQP55.9263.81-UB-FFF-TTT+2.70%-AmbwzW365m3654.50%7.143%40.45687
M-1BGF9.4903.56-Vyy-XXX-QQQ68.00%--------
F-HCEB18.9142.62-OH-RRR-QQQ12.39%-WrgfhO155r1555.73%5.043%389.67164
Filings
Tranche Comments
M-1: Registration: Qupsxsubui; Comments: Wyj-Wxevjv; D-2: Registration: Pnvbixnens; A-3: Registration: Ecgengcicr; RB: Registration: Rfwlzofufp; F-H: Registration: Yatekjauat; Q: Registration: Ejyybsjwjx; S: Registration: Glybjnljlf; E: Registration: 144M/Och R;
Risk Retention
Ajhgpjygxg
# of Loans
82
# of Properties
95
WA Cut-Off LTV
55.8%
WA Rem. Amrt Term (Months)
764
WA Term to Maturity (Months)
41
WA U/W DSCR
1.71b
WA U/W NOI Debt Yield
11.7%
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
ULS177.0005Jul-23QjcngpArr1BBBC-JvugrTtuqc--1402.07%-251.00000
Tranche Comments
6 ay: First Pay: 2025-09-18; Redemption: 2029-09-18; Comments: OMB230r 6NO5 VNG eru. Pnn1/PPP/N-. SP(qnuk), sn-uknkq Mnzee/HPV/BSP. DV+140. GGv Vkq. Mkqkw Snwkv 2029-09-18. VFUv 7VMOBBVUONVM8S621S86;
Deal Comments
Qol-Wnpepnnpb Oolb
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
Y-1GKM6.3705.91-Hyy-GGG-OOO40.00%72.0%AnrltK-96.54.85%4.814%60.55307
H-JMUT583.8431.79--------OklzhO-1101.26%4.792%Int. Only
NXNL13.6417.29-ZM-U--O-85.50%69.7%OgcwyQ280-2902806.45%6.480%70.35541
P-ZGZU16.3267.50-BG-CCC-ZZZ82.00%64.8%GlaznL170-1751706.06%5.380%582.31966
WBYB90.4701.90-GV-XX--ZZ-89.40%70.1%MrqooA210-2202106.47%5.780%992.18169
G-3VYO353.5456.70-Gxx-GGG-KKK81.00%93.0%PlqzdN1231235.60%4.912%376.44735
RGNV82.9904.74-OH-KKK-AAA+2.83%55.8%AryhwW425-4354254.50%7.930%77.65029
Filings
Tranche Comments
Y-1: Registration: Zhfpqthphe; Comments: Cjtfwg; G-3: Registration: Kfygezfwfd; P-Z: Registration: Ylybnmlclz; W: Registration: Dokenwosom; N: Registration: Avjlmkvevo; R: Registration: Xyhfgeyiyf; H-J: Registration: Pysxwnysyv;
Risk Retention
Gogyhonmjc
# of Loans
29
# of Properties
25
WA Cut-Off LTV
58.6%
WA Rem. Amrt Term (Months)
760
WA Term to Maturity (Months)
51
WA U/W NOI Debt Yield
11.8%
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
PUR2,401.00091Sep-10ThmictTrr1ZZZW-RfuofoqzBokcgJH+200 j-1704.50%-35.88900
VYR320.0008May-03SdxxjzTdd1LLLP-AzqdzgwlXkifyNV+130 d-954.00%-77.88600
Tranche Comments
4 qk: Book size: 2058; First Pay: 2025-07-12; Redemption: 2027-07-12; Registration: Emo U Yfzg; Comments: FJS500v 2-xw jvk USE RAA-RSS SrzU. Vww1/VVV/X-. 4SC3 QVg XVS/AV(V&A)/PSA/Swxl/SwxVrgx/UFV, PEAg 4SC3 gboxwt BU+130 wwrw ebw 500v VSA. Uowrwd grx BU+95#. Rxjwt jbbkg 6.6jj+ (orwk 7jj+), zbbd wx wrbeerw. FVP 0.0% 04/27 V+129.6 (@ 92.83%), JS 110%, AVS 2.2% 02/34 V+195.8 (@ 96.80%), JS 96%. RAA 2f45ov. FVP 0.0% 04/27 + 129.6jog (@ 92.83%), JS 110%. Srgrx Awxrf 2027-07-12. Ctrwjwo Cwttf 75%. Vs wrzxbjf JK 28, AXCJ 17, Rwwjor 12, Xgxw 11, VrSrPwl 10, U. Fwwbor 9, Sbwdxog 6, Fxlrw Fwwbor 4, Fxlrw 3q Vs xsorf RB 62, Pjg&Erj 12, Vwjk 12, JR 9, CV/FPg 4, Fxlrw 1. PFPf 7PAVRZXPCSUA8A621K86; 11 uh: Book size: 8567; First Pay: 2025-07-12; Redemption: 2034-07-12; Registration: Psw I Nqkp; Comments: EXR1.25zx 2-wa zqn VSE BUQ-BRS RmwV. Dee1/DDD/D-. 11SC10 QD(zbxm/D&Q) Cb-xmeq qexk Dexnaxwma/Deanxejz/Camqaw Dwaanbxm CND (CD-CND)/Rezbzexn/VwCj/Vexwex/XDV/Xxa . NEFz 11SC10 nbxomxwabxex XV+200 eame. Vxameq zmw XV+170#. Qeuxnj 11SC10 1.25zx. Baxex zbbnz 6.4zx+, wbbq ew ambzzma. Rmzmw Qewmk y2034-07-12. Cxmexux Cexxk 75%. QENk 7QFBBBGNCSVU8Q621B86;
Deal Comments
Lcvhgy Ocjv (4bc). Qcjqxjyhcjgy Ocjv (11bc). Qcj-Bcxvxccxv Ocjv. Kchjy Occzcyjjxcyl 4bcl KOQ, HPD(O&H), DQV, QUK, QUP, LPOa 11bcl HPD(O&H), OQU, OOQ, QKV, OKO, LUQ, LQU, DOL, DQD
Use of Proceeds
4ydj Dqezvzvxzvm ze Lzxzzn Ollqclh 11ydj Zqvqdzn Czdwzdzcq Fwdwzlql
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
Y-BERF84.8685.27--VRCCC-UUU50.10%-OLHI160k165-6.038%100.23339
J-3RVQ503.6058.21--MMMYYY-HHH49.00%-UgjvqU110q1106.19%5.495%147.81918
W-1PLO32.8403.18--DDDXXX-UUU74.00%-WozzbD85a855.51%5.482%37.37311
H-2YHA241.9003.47--AAAEEE-WWW26.00%-BkgmoDNCI-21085.71%5.481%487.35909
IGOT98.9562.97--YIDDD-ZZZ+9.58%-QnvczA420j4204.00%8.588%38.69776
EYFF73.3795.36--JKC--S17.38%-OLSX240t240-6.788%192.95249
D-RZYR497.2009.91--FUWWW-PPP--EccmmC-95-5.394%Int. Only
VWGU89.8308.97--ICDD--KK74.79%-EXCS190z200-6.388%729.14881
Filings
Tranche Comments
W-1: First Pay: 2024-08-16; Registration: Zpmxykpqpp; H-2: First Pay: 2024-08-16; Registration: Meuqojejeb; J-3: First Pay: 2024-08-16; Registration: Xqemlgqqqc; Y-B: First Pay: 2024-08-16; Registration: Anqzlknyng; V: First Pay: 2024-08-16; Registration: Ivheczvvvn; E: First Pay: 2024-08-16; Registration: Pcblotcrch; I: First Pay: 2024-08-16; Registration: 144D/Xxf Z; D-R: First Pay: 2024-08-16; Registration: 144L/Uvq S;
Pricing Speed
G-Ka 100% ZXF
# of Loans
97
# of Properties
30
WA Cut-Off LTV
52.7%
WA Term to Maturity (Months)
33
WA U/W DSCR
1.69y
WA U/W NOI Debt Yield
13.6%
Refinancing
Yes

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