Goldman, Citigroup Plan to Sell $788.5 Million of Commercial Mortgage Debt
Goldman Sachs Group Inc. and Citigroup Inc. plan to sell $788.5 million of bonds backed by commercial mortgages, according to a person familiar with the offering.
The issue contains debt on 48 properties, said the person who declined to be identified because terms aren’t public. Retail account for 78.2 percent of the pool and offices make up 10.4 percent, the person said.
The offering comes as Wall Street works to revive the $700 billion market after sales tumbled 95 percent to $11.2 billion in 2008, choking off funds to borrowers. Banks arranged $3.4 billion of the securities last year, and about $1.7 billion has been sold in 2010, according to data compiled by Bloomberg.
Read more from Bloomberg
Related posts
- Better Credit Quality Should Boost Banks' Q2 Earnings
- Banks: Kicking Butt in Mortgage Mods
- Banks vs. Congress: The Financial Reform Endgame Approaches
- Former SEC Honcho on Reform
- Bank reforms to pinch consumer credit
- UK Launches New Bank Tax
About Loan Safe
