JPMorgan Chase & Co. is planning to sell $1.02 billion worth of commercial mortgage-backed securities (CBMS), The Wall Street Journal reports. The senior AAA CMBS will provide a 30 percent credit enhancement to investors. The bank will offer the senior notes in a public offering. About 50 percent of the firm’s CMBS will be backed by loans on retail properties, with another 20 percent on hotels and 17 percent on office buildings.
Click here for the story from The Wall Street Journal.