Banc of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through
Certificates, Series 2004-3 $1.16BB NEW ISSUE CMBS
Lead-Mgr/Bk: Banc of America Securities LLC
Co-Managers: Bear Stearns/Goldman Sachs ($25mm A5 retention each)
Rating Agencies: S&P and Moodys
Approx
Size Rating Credit Principal
Class (Face) (S/M) Support WAL Win (mo) Guidance
A-1 23.0mm AAA/Aaa 14.250% 1.258 1-29 EDSF+20-22
A-2 34.0mm AAA/Aaa 14.250% 3.642 29-57 S+26-27
A-3 125.0mm AAA/Aaa 14.250% 5.558 57-81 S+30-31
A-4 110.0mm AAA/Aaa 14.250% 7.234 81-104 S+35-36
A-5 414.3mm AAA/Aaa 14.250% 9.723 104-118 S+36A
B 28.8mm AA/Aa2 11.750% 10.022 119-124 A4+7A
C 11.5mm AA-/Aa3 10.750% 11.192 124-136 B+3A
D 24.5mm A/A2 8.625% 11.613 136-144 B+10A
E 11.5mm A-/A3 7.625% 11.989 144-144 D+10A
Collateral: 94 Loans / 189 Properties
- -Loan Seller: Bank of America, N.A.
- -Property Types: Off 31.8%, MH 19.7%, SS 16.5%, Multi 16.0%, Ret 12.8%,
Indus 2.0%, Hotel 1.2%
- -Geographic: TX:18.2%, NY:11.8%, MI:7.9%, FL: 7.7%, CA: 7.4%
(No.CA: 0.7, So. CA: 6.8), AZ: 5.6%, No Others >5%
- -DSCR/LTV 1.62x / 67.2%
- -Inves. Grade
Loans: Three Loan for 22.8% of UPB
- -Top 10 Loans: 43.3% of the pool, DSCR: 1.92x, LTV: 59.6%
Shadow
- -Top 3 Trust Assets DSCR LTV Ratings %UPB
U-Haul Portfolio 2.84x 37.5% AAA/Aaa 9.5%
Calpine Center 2.28x 48.3% AAA/A3 6.7%
17 State Street 2.23x 44.6% BBB+/Baa2 6.6%
Expected Timing
Termsheets - 6/18
Reds - 6/21
Launch / Price - week of 6/28
Settlement - 7/14
Roadshow
- -Monday, 6/21, NY
- -Tuesday, 6/22, NY
- -Wednesday, 6/23, Mid-West
- -Thursday, 6/24, Boston/Hartford
This message is for information purposes only, and we are not soliciting any
action based upon it. The information herein is believed to be reliable but it
should not be relied upon as such and is subject to change without notice. Banc
of America Securities LLC and its affiliates may acquire, hold or sell positions
in these securities or in related derivatives and may have an investment banking
or banking relationship with the issuer. Information herein will be superseded
by information in the final prospectus, copies of which may be obtained from
David Gertner / Stephen Hogue at Banc of America Securities LLC, 214 North Tryon
Street, Charlotte NC 28255. Such securities may not be suitable for all
investors.