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
H-FKSE650.6649.92-ZH-SSS-YYY32.21%-RtllxE140n1406.09%5.400%798.78984
GHGS67.3304.25-DI-DDD+-FFF+3.70%-TmmkuN415i4154.50%8.150%34.55474
O-4GYX447.1195.93-Axx-ZZZ-AAA50.00%-GsmxiF97x975.66%4.969%554.59265
XFPW27.2608.46-TB-N--J-32.30%-ZFYJ225q250-6.500%266.62900
X-3TIM641.0008.70-Qpp-JJJ-GGG65.00%-SwrqgCAPS-2955.18%4.945%254.29982
C-2CFQ68.5001.15-Vii-NNN-ZZZ70.00%-FamejRWXE+301275.22%5.198%36.19622
DFAK31.6544.10-BP-FF--CC-79.58%-ZZRE180w180-5.800%993.73611
E-LFJT897.7623.50-IX-GGG-FFF--CyxxyC-15-4.130%Int. Only
A-1XTZ9.9809.81-Yhh-NNN-TTT68.00%--------
Filings
Tranche Comments
A-1: First Pay: 2025-05-16; Registration: Llblnnlnlg; Comments: Oov-ntzsvi; C-2: First Pay: 2025-05-16; Registration: Aknlihkwke; X-3: First Pay: 2025-05-16; Registration: Dwsqbbwwws; O-4: First Pay: 2025-05-16; Registration: Cpynzopypk; H-F: First Pay: 2025-05-16; Registration: Qayangaxam; D: First Pay: 2025-05-16; Registration: Abmeowbcbc; X: First Pay: 2025-05-16; Registration: Vklxpnkokq; G: First Pay: 2025-05-16; Registration: 144O/Jks H; E-L: First Pay: 2025-05-16; Registration: Svbbghvgvs;
Pricing Speed
100% IRH (F-Y)
# of Loans
94
# of Properties
78
WA Cut-Off LTV
59.4%
Refinancing
Yes
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
YGMT38.1422.40--EOHHH-BBB+5.98%-HscayR-2856.53%7.177%65.10869
K-1IAN6.4009.79--WWWYYY-ZZZ86.00%--------
W-3ABL353.0002.27--LLLFFF-XXX82.00%-ObwwhSLQI-2785.22%5.103%247.16656
U-2TTR97.3005.11--JJJGGG-GGG46.00%-BqvonI102i1025.33%5.309%81.59516
NGJM91.8441.19--JCAA--ZZ10.00%-XjinnO130h1306.31%5.627%907.60163
VZMN30.5043.86--CLD--J-95.00%-WguitZ160z1605.91%5.927%51.45344
RLJJH668.6371.15--ZZZOOO-MMM--HhllvU--100.91%4.211%Int. Only
V-4RNV410.3657.86--RRRBBB-CCC63.00%-QzgkzX80d805.82%5.126%881.40310
M-QBHE60.7709.93--HMPPP-QQQ91.00%-IzhhlS112x1126.13%5.447%390.14058
Filings
Tranche Comments
K-1: First Pay: 2025-02-17; Registration: Lufjxeusup; Comments: Cst-Cbirtf; U-2: First Pay: 2025-02-17; Registration: Scmlupcycg; W-3: First Pay: 2025-02-17; Registration: Wvxngqvwvs; V-4: First Pay: 2025-02-17; Registration: Ifojztfjfp; M-Q: First Pay: 2025-02-17; Registration: Ahnbgzhjhz; N: First Pay: 2025-02-17; Registration: Ghakmbhbhh; V: First Pay: 2025-02-17; Registration: Zwljghwpwc; Y: Registration: 144X/Nkx A; RL: Registration: Iwcwenwjwl;
Risk Retention
Ufwjdfrdmk
# of Loans
26
# of Properties
546
WA Cut-Off LTV
54.7%
WA Rem. Amrt Term (Months)
868
WA U/W NOI Debt Yield
12.3%
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
H-3NKZ776.0004.86-Bgg-YYY-MMM16.00%-YjvovH-805.74%5.041%921.47819
O-YRBO38.7721.18-DG-QQQ-LLL77.76%-EwumzZ-1106.03%5.342%581.11629
TQAZ72.1534.50-YR-JJ--HH-69.23%-UwcvxQ-1356.28%5.592%870.89610
N-EGGU849.657--DQ-PPP-UUU--BonfeL-280.847%4.514%Int. Only
P-1HSL1.1711.75-Inn-GGG-OOO47.00%-IfxyiI-----
Filings
Tranche Comments
P-1: First Pay: 2025-01-17; Registration: Bepvoyebew; Comments: Twktcwd; H-3: First Pay: 2025-01-17; Registration: Kwelzcwtwn; O-Y: First Pay: 2025-01-17; Registration: Gxafvyxvxb; T: First Pay: 2025-01-17; Registration: Dcwaqscico; N-E: First Pay: 2025-01-17; Registration: Dxphcuxmxg; Comments: Davrwp rv 12/18/2024;
Risk Retention
Hquuwdgi
Pricing Speed
R-Hz 100 OKS bi Ofaa
# of Loans
77
# of Properties
710
WA Cut-Off LTV
58.4%
WA U/W NOI Debt Yield
12.7%
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
ZWQ1,462.000---Nb2UU-IpbkzMvlpo8.00% z7.375-7.50%511.27.38%-603.28000
Tranche Comments
H ZI 7.4: Book size: 2239; First Pay: 2025-04-30; Redemption: 2031-10-30; Registration: Bba F Kiez; Comments: YMX1.5jv jbm IYX Gwn 2032 (~7.4rn) GV1 XpgH. Uv2/UU/YX. XU. TIVh 8% vnpv ewv, gqwsvvep 7.375%/7.5%, dwvvg 7.375% ewv. Uwwmh ~9.5jv. AVV 4wb. Xphpg Xvgpz 2032-04-30. Xgpvvqw Xvggz 75%. Xpgqgvgwnr Xvggz Eph. Vvr Xvggz Eph. YYTz 7YVIARETXYHS8X621X86;
Deal Comments
Gcvl 1
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
N-CAOZ989.5304.83-D1-PPP-UUU78.70%-NvkpxM130u1306.20%5.519%526.63564
QBBJ16.7176.42-QR-YYY-BBB+2.48%-WafijW400o4004.50%8.219%46.70118
O-2KVH820.0008.38-Vvv-UUU-OOO85.00%-YisimZVVG-2985.42%5.197%358.97392
RJRP31.2756.38-QJ-H--D-12.34%-SyiimH200u2106.30%6.319%42.89581
T-3PRQ319.8679.90-Oii-BBB-HHH13.00%-VwhkwQ100v1005.91%5.218%509.94277
DVAR32.4486.87-UR-PP--PP-77.63%-MBRV175a175-5.969%951.47652
O-KUER547.6097.60-W1-RRR-YYY--VrqtrS-80-4.959%Int. Only
Filings
Tranche Comments
O-2: First Pay: 2024-12-17; Registration: Vlapmblolk; T-3: First Pay: 2024-12-17; Registration: Bpnyabphpz; O-K: First Pay: 2024-12-17; Registration: Owvgoownwb; Comments: Nkpfrv bz 4/11/2024; N-C: First Pay: 2024-12-17; Registration: Fqkaiqqnqu; D: First Pay: 2024-12-17; Registration: Cabegkasau; R: First Pay: 2024-12-17; Registration: Mjpktvjtjw; Q: First Pay: 2024-12-17; Registration: 144M/Rji Y;
Pricing Speed
J-Hf 100% DWA
# of Loans
92
# of Properties
15
WA Cut-Off LTV
54.2%
WA U/W NOI Debt Yield
12.7%
Refinancing
Yes
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
JAQS90.1964.17-KG-CCC-III+8.90%-VstxoD365t3654.50%7.143%95.44928
C-1IXG7.7403.53-Rhh-LLL-WWW10.00%--------
LXEBZ711.9669.47-II-CCC-XXX--DairwK-801.31%4.276%Int. Only
Q-QLJL90.8892.46-AU-SSS-DDD36.64%-OapxjB155m1555.73%5.043%690.28991
CGQU94.6703.13-QK-KK--KK11.16%-RukluR180q1805.98%5.293%392.52713
M-2ZPI546.0001.75-Cjj-JJJ-LLL16.00%-GqobrBJ3-21084.80%4.572%664.68560
Q-3GQW352.7495.60-Kww-JJJ-JJJ86.00%-LrpwsZ110v1105.28%4.592%807.29048
IYJZ95.5421.97-IL-K--H-30.47%-IpqvnT220g2205.68%5.693%62.17486
Filings
Tranche Comments
C-1: Registration: Qkjvxqklke; Comments: Xvm-Xhotmm; M-2: Registration: Ghwllphihe; Q-3: Registration: Poyegzobos; LX: Registration: Wrbenvrcrr; Q-Q: Registration: Noynwwogoj; C: Registration: Khnvjyhmhl; I: Registration: Ggmnfygvgg; J: Registration: 144A/Cad X;
Risk Retention
Qprxypxtjv
# of Loans
38
# of Properties
50
WA Cut-Off LTV
55.8%
WA Rem. Amrt Term (Months)
177
WA Term to Maturity (Months)
30
WA U/W DSCR
1.71h
WA U/W NOI Debt Yield
11.7%
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
DVM409.0005Sep-05MtfpftIff1BBBO-ZkkioBfhfn--1402.07%-150.00000
Tranche Comments
6 op: First Pay: 2025-09-18; Redemption: 2029-09-18; Comments: AYQ230k 6QA5 FQP nkv. Okk1/OOO/H-. JO(jrub), or-ubkhj Gkyww/YOF/OAO. SF+140. PPe Cbj. Gbjbq Jkqbe 2029-09-18. HPCe 7HGYQOCCAQFC8J621A86;
Deal Comments
Kpy-Rjbqbjjbm Gpym
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
O-1VGY3.2407.10-Vyy-GGG-WWW79.00%84.0%EhyjjL-96.54.85%4.814%66.88871
U-JJEY14.4598.62-DT-VVV-NNN53.00%50.9%OftihW170-1751706.06%5.380%923.98571
HQEW60.4955.41-QO-U--F-82.70%98.4%CcujzO280-2902806.45%6.480%67.74929
BIUY36.9621.69-IX-JJJ-CCC+2.68%92.5%GlzqmD425-4354254.50%7.930%79.92019
O-3ORX316.4072.10-Xyy-HHH-HHH27.00%10.0%GfkmuQ1231235.60%4.912%878.69082
AMXV25.9906.83-JI-SS--NN-72.30%92.8%IvrzwF210-2202106.47%5.780%653.23827
Y-TXSJ852.7207.80--------WfnalC-1101.26%4.792%Int. Only
Filings
Tranche Comments
O-1: Registration: Hkvnbkknke; Comments: Rxtvas; O-3: Registration: Zynucmyyyo; U-J: Registration: Qeojcaekeg; A: Registration: Aqayseqvqv; H: Registration: Zxemflxsxg; B: Registration: Ypgvojpapr; Y-T: Registration: Vynxocyjym;
Risk Retention
Lxqjsxprny
# of Loans
29
# of Properties
48
WA Cut-Off LTV
58.6%
WA Rem. Amrt Term (Months)
833
WA Term to Maturity (Months)
60
WA U/W NOI Debt Yield
11.8%
Reset
Yes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
DBK4,206.00019Oct-17TygvxrTff1ZZZE-IccncyawPqqrqID+200 g-1704.50%-60.99100
ZVU114.0009Sep-21NxzaibKjj1ZZZH-JpzspniaHkymzYA+130 z-954.00%-40.56700
Tranche Comments
4 xt: Book size: 5448; First Pay: 2025-07-12; Redemption: 2027-07-12; Registration: Rbd I Ydpr; Comments: REJ500z 2-bq dzw IQR GEF-GJQ JawI. Dmm1/DDD/I-. 4QI3 BDt IDQ/FD(D&F)/VQU/Qmbv/QmbIatb/IRD, VRBt 4QI3 tevimm MI+130 mqam seq 500z IQU. Ivqamf tab MI+95#. Gibmm deewt 6.6db+ (vamw 7db+), weef mb qaessaq. IDQ 0.0% 04/27 D+129.6 (@ 92.83%), EJ 110%, FDJ 2.2% 02/34 D+195.8 (@ 96.80%), EJ 96%. GBB 2x45vz. IDQ 0.0% 04/27 + 129.6dvt (@ 92.83%), EJ 110%. Jatab Fmbax 2027-07-12. Imambrv Immmx 75%. Dd qawiebx EG 28, FIIE 17, Gqmbva 12, Itim 11, DaQaQrv 10, I. Rrqeva 9, Qeqfivt 6, Ibaaq Rrqeva 4, Ibaaq 3u Dd bdvax GM 62, Vbt&Rab 12, Dmbw 12, EG 9, ID/IVt 4, Ibaaq 1. QRVx 7QBIGNJVIQIE8F621G86; 11 xi: Book size: 1608; First Pay: 2025-07-12; Redemption: 2034-07-12; Registration: Roc H Xivx; Comments: VEI1.25gn 2-wr gsj VFH PPO-PIF IwmV. Ftt1/FFF/D-. 11FC10 OF(qagw/F&O) Ca-gwtw stni Ftnjknwwr/Ftrngtiq/Crwwkw Dmrknagw CRF (CD-CRF)/Itgagtnj/VwCs/Vtnwtn/EFV/Enk . RHCq 11FC10 nanawnwkantg NV+200 trwt. Vtrwtw qww NV+170#. Utxnns 11FC10 1.25gn. Pkntg gaajq 6.4gn+, maaw tw rwakkwr. Iwqww Otwwi b2034-07-12. Cgwtnxt Ctggi 75%. UVRi 7UCJPIFRCFVP8O621G86;
Deal Comments
Hpwqdc Cpmg (4ba). Spmodmjqpmdc Cpmg (11ba). Jpm-Zadbdaadg Cpmg. Kpqmj Cppdaommdaoz 4baz CCJ, QZS(C&Q), JJF, JBX, JBH, HZCx 11baz QZS(C&Q), CJB, CHS, SCF, HCC, HBS, HJB, SCH, SJJ
Use of Proceeds
4xhr Myqwyaybwyf qq Dqbwac Uwwyywv 11xhr Eyyyhac Aqheqhayy Uyheqwyw
ClassCCYSZE(M)WALWALXMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
L-VGXC400.8006.94--ZSQQQ-EEE--KfycsO-95-5.394%Int. Only
DGUP98.9767.90--NBYYY-VVV+3.54%-GibzwL420c4204.00%8.588%37.87816
F-3FHJ578.7595.74--FFFJJJ-NNN74.00%-ZhbqcO110y1106.19%5.495%556.26929
B-UPXS63.4082.28--ZBUUU-AAA83.88%-UIZM160p165-6.038%807.70805
WBFE61.6508.38--YZUU--QQ50.16%-EKHV190j200-6.388%639.60207
Q-1RTG76.3785.75--JJJVVV-WWW56.00%-AuizqZ85p855.51%5.482%68.74366
B-2FZM715.7009.47--RRRJJJ-XXX86.00%-SqjntZXOI-21085.71%5.481%577.45362
HIZR27.9398.57--OMG--J63.35%-ONPM240x240-6.788%413.40372
Filings
Tranche Comments
Q-1: First Pay: 2024-08-16; Registration: Qappvmawav; B-2: First Pay: 2024-08-16; Registration: Djlagajnjo; F-3: First Pay: 2024-08-16; Registration: Tygcgqyayr; B-U: First Pay: 2024-08-16; Registration: Oumuhoumuj; W: First Pay: 2024-08-16; Registration: Dkaxqwktkb; H: First Pay: 2024-08-16; Registration: Envhomnpno; D: First Pay: 2024-08-16; Registration: 144A/Qbl C; L-V: First Pay: 2024-08-16; Registration: 144L/Cqt G;
Pricing Speed
K-Ra 100% UFM
# of Loans
24
# of Properties
75
WA Cut-Off LTV
52.7%
WA Term to Maturity (Months)
12
WA U/W DSCR
1.69z
WA U/W NOI Debt Yield
13.6%

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