UNITED STATES

摘要

Starwood waypoint is due to announce its new single family rental securitisation via JP Morgan (structuring), Citigroup and Deutsche Bank this Monday. The issuer has scheduled meetings and calls in New York on Monday and Tuesday, and meetings in Boston on Tuesday. The transaction, called sway 2014-1, is around US$505m in size, comprising a series of 2.1-year tranches paying over one-month Libor. The indicative structure features a US$234.231m Triple A note, ranked by Moody's, KBRA and Morningstar. The other tranches are a US$61.26m Double A, a US$55.855m Single A, a US$39.639m Triple B, a US$80.359m Triple B from KBRA and Morningstar only, and a US$33.152m Double B piece again rated by those two agencies. The issuer has already received some reverse enquiry for parts of the capital structure, and so these will not be publicly offered. However, the leads have not disclosed the extent of the reverse enquiries.