[Update 1: more clarity on structuring added] Goldman Sachs (GS) priced its latest $788.5m commercial mortgage-backed securities (CMBS) offering, an unnamed source told HousingWire. The information could not be immediately confirmed. Goldman structured the offering with Citigroup (C). Moody’s and DBRS rated the tranches. The largest portion is a $410.7m section maturing in 9.86 years that will yield 135 basis points (bps) more than the benchmark swap rate, according to the source. The double A class came in at plus-135 with a coupon of 4.592. The second largest section of the offering, at $232m, was rated double-A at plus-125 over swap with a 3.679 coupon. The B class came at plus-190 with a 5.148 coupon, the C class at plus 265 carried a coupon of 5.635, and the D class at plus 400 carried a 6.149 coupon. JPMorgan is also structuring a $650m CMBS deal on behalf of Vornado Realty Trust. Both are considered in private placement among large institutional investors. The deals are made as delinquencies on existing CMBS loans continue to rise. The delinquent unpaid balance on these loans passed $60bn in June, more than double the amount from a year ago, according to the analytics firm Realpoint. Write to Jon Prior. The author held no relevant investments.

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