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03

The Bond Sale That May Solve a $566 Billion Problem

By Tony Seruga

Wells Fargo to issue first CMBS that meets Dodd-Frank rules
Banks depend on debt issuance to fund real-estate lending

An upcoming bond sale could determine whether Wall Street banks stay in the $566 billion business of packaging commercial mortgages into securities.

The nearly $871 million issue, from Wells Fargo & Co., Bank of America Corp., and Morgan Stanley, would be the first to comply with new rules designed to make commercial mortgage-backed securities safer for investors. The deal is slated to be sold as soon as this week…

The Bond Sale That May Solve a $566 Billion Problem

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