NEW YORK, May 20 (IFR) - Blackstone Group set official
guidance Tuesday on its US$1bn Invitation Homes single-family
rental securitization 15bp-50bp wider than investors had heard
on all but the deal's top tranche.
Guidance on the Triple A piece is in line with whispers in
the area of Libor plus 100bp.
But guidance on the Class B is L+135bp-150bp versus whispers
of L+135bp. The Class C is at L+190bp-210bp versus L+175bp; the
Class D is at L+240bps-260bp versus L+210bp; the Class E is at
L+275bp-300bp versus L+250bp; and the most deeply subordinated
Class F slice was guided at L+350bps-375bp, wide to the whispers
Lead managers Deutsche Bank, Credit Suisse and JP Morgan are
aiming to price the Invitation Homes deal this week.
(Reporting by Joy Wiltermuth and Charles Williams; Editing by
Natalie Harrison and Marc Carnegie)