Goldman Sachs Group Inc. (GS) and Citigroup Inc. (C) are planning to market about $1 billion of bonds backed by commercial property loans as soon as next week as demand for the debt recovers amid optimism the U.S. economy can withstand Europe’s fiscal crisis, according to those good folks at Bloomberg
The deal will probably be the first of its kind for 2012, according to people familiar with the offering, who declined to be identified because the transaction hasn’t been announced. The New York-based banks last sold similar debt in September, when they issued $1.7 billion in securities tied to shopping malls, hotel and office mortgages, according to data compiled by Bloomberg.
Banks pulled back from making new loans to package into bonds in July as Europe’s debt crisis roiled credit markets and sent relative yields soaring. Originations have since picked up, according to a Standard & Poor’s report last month. The ratings company is forecasting $35 billion in 2012 sales….
More? Check out http://www.bloomberg.com/news/2012-01-10/goldman-sachs-citigroup-planning-first-2012-commercial-mortgage-bond-deal.html
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