Form FWP Bbcms Mortgage Trust 2019-c3

Filing under Securities Act Rules 163/433 of free writing prospectuses

Published: 2019-05-13 13:11:31
Submitted: 2019-05-13
n1608_fwpemail-x6.htm FREE WRITING PROSPECTUS


> ENT> FWP 1 n1608_fwpemail-x6.htm FREE WRITING PROSPECTUS
    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226850-02
     

 

From: Bc Struct Prod Synd Barclay (BARCLAYS CAPITAL INC) At: 05/13/19 09:13:46

 

Subject: New Issue CMBS: BBCMS 2019-C3 **PUBLIC ANNOUNCEMENT*

BBCMS 2019-C3 -- NEW ISSUE CMBS

$823.080MM NEW ISSUE CMBS ***PUBLIC OFFERING***

 

JOINT BOOKRUNNERS & CO-LEAD MANAGERS: BARCLAYS CAPITAL INC.

UBS SECURITIES LLC

NATIXIS SECURITIES AMERICAS LLC

SG AMERICAS SECURITIES, LLC

 

CO-MANAGERS: DREXEL HAMILTON, LLC & KEYBANC CAPITAL MARKETS INC.

 

RATING AGENCIES: S&P, FITCH & KBRA

 

***PUBLIC OFFERED CERTIFICATES***

CLASS RATINGS
(S/F/K)
SIZE
($MM)
C/E WAL LTV DY
A-1 AAA/AAA/AAA 16.654 30.000% 2.88 42.1% 16.0%
A-2 AAA/AAA/AAA 30.000 30.000% 4.68 42.1% 16.0%
A-3** AAA/AAA/AAA [280.000] 30.000% [9.58] 42.1% 16.0%
A-4** AAA/AAA/AAA [293.000] 30.000% [9.84] 42.1% 16.0%
A-SB AAA/AAA/AAA 36.000 30.000% 7.02 42.1% 16.0%
A-S AA/AAA/AAA 87.811 20.625% 9.90 47.8% 14.1%
B NR/AA-/AA 39.808 16.375% 9.93 50.3% 13.4%
C NR/A-/A- 39.807 12.125% 9.93 52.9% 12.7%

 

** A-3 AND A-4 AVAILABLE SIZES ($MM) AND WALs ARE SUBJECT TO CHANGE AS DETAILED IN THE ATTACHED TERM SHEET. RANGE OF POSSIBLE AVAILABLE SIZES ($MM) BELOW:

A-3: 100.000 – 325.000

A-4: 248.100 – 473.100

 

COLLATERAL SUMMARY:  
   
POOL BALANCE: $936,649,542
NUMBER OF LOANS: 50
NUMBER OF PROPERTIES: 517
WA CUT-OFF LTV: 60.2%
WA UNDERWRITTEN NCF DSCR: 1.93x
WA UNDERWRITTEN NOI DEBT YIELD: 11.2%
WA MORTGAGE INTEREST RATE: 4.80232%
WA REM. TERM TO MATURITY (MOS): 115
   
LOAN SELLERS: BARCLAYS (29.7%), SGFC (28.5%), KEYBANK (13.0%), UBS AG (12.7%), NATIXIS (9.9%), RMF (6.2%)
   
TOP 5 PROPERTY TYPES: OFFICE (26.6%), HOTEL (19.9%), SELF STORAGE (13.4%), RETAIL (12.3%), INDUSTRIAL (11.2%)
   
TOP 5 STATES: CA (12.9%), FL (10.0%), PA (7.8%), TX (7.8%), NC (6.6%)
   
TOP 10 & 5 LOANS AS A % OF POOL: 45.4% & 26.5%
   
   
MASTER SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, N.A.
SPECIAL SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, N.A.
OPERATING ADVISOR: PENTALPHA SURVEILLANCE LLC
DIRECTING HOLDER: KKR REAL ESTATE CREDIT OPPORTUNITY PARTNERS AGGREGATOR I L.P. (OR ITS AFFILIATE))
TRUSTEE: WELLS FARGO BANK, NATIONAL ASSOCIATION
CERT. ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

 

 

ANTICIPATED TIMING:

 

TERM SHEET, ANNEX A-1

& RED: ATTACHED

THIRD PARTY SYSTEMS: TODAY (5/13)

NYC 1-ON-1 MEETINGS: WEDNESDAY (5/15) *CONTACT SALES COVERAGE*

PRE-SALE REPORTS: TODAY (5/13) OR TOMORROW (5/14)

ANTICIPATED SETTLEMENT: 6/11

 

 

ROADSHOW SCHEDULE:

 

>> NORTHEAST: MONDAY 5/13

 

08:30AM EST: BREAKFAST, MAX DOWNTOWN (ALFRED ROOM), HARTFORD, CT

12:00PM EST: LUNCH, BOSTON HARBOR HOTEL (JOHN ADAMS SALON), BOSTON, MA

 

>> MIDWEST: TUESDAY 5/14

 

7:30AM CST: BREAKFAST, THE GRAND HOTEL (3 MISSISSIPPI), MINNEAPOLIS, MN

1:00PM CST: LUNCH, THE DES LUX HOTEL (THE BOARDROOM), DES MOINES, IA

 

 

The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (File No. 333-226850) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the Securities and Exchange Commission for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at sec.report. Alternatively, the depositor, any underwriter, or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling 1-888-603-5847.

 

Any legends, disclaimers or other notices that may appear at the bottom of any email communication to which this document is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.

 

 

 



-------------------------------------------------------------------------------
This message is for information purposes only; unless stated, it is not a recommendation, advice, offer or solicitation to buy or sell products or services, nor a transaction confirmation. This is intended for professionals and recipients only; not for retail customer use. This message is subject to the terms at www.barclays.com/emaildisclaimer. For important disclosures regarding market commentary from Barclays Sales and/or Trading who are active market participants: www.barclays.com/salesandtradingdisclaimer. For Barclays Research, including disclosures relating to specific issuers: https://clicktime.symantec.com/3Ar83LED9LM8BXoLyvJuXzV6H2?u=http%3A%2F%2Fpublicresearch.barclays.com. Capital and Markets Clients: Barclays' traders may be present in Chat Rooms.

Additional Files
FileSequenceDescriptionTypeSize
0001539497-19-000746.txt   Complete submission text file   18719

© 2019 SEC.report
SEC CFR Title 17 of the Code of Federal Regulations.