Wells Fargo Securities and Royal Bank of Scotland (RBS) are seeking to raise $1.48 billion through a commercial mortgage-backed securities (CMBS) issue, The Wall Street Journal reports. The issue is backed by 132 office and retail store properties.
The issue is expected to offer a yield premium of 170 basis points over an interest-rate benchmark. The dealers increased the spread on the issue to about 160 basis points from 145 basis points.
Click here for the story from The Wall Street Journal.