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Article: FDIC Taps Lehman to Manage Offering
- Article from:
- Commercial Mortgage Alert
- Article date:
- October 21, 1996
CopyrightCOPYRIGHT 1996 Harrison Scott Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moving ahead with its long-delayed commercial MBS offering, FDIC has selected Lehman Brothers to lead the deal.
The transaction, slated to take place in December, will involve up to $800 million of performing mortgages. Lehman beat out a number of rivals for the lead-manager assignment. Goldman Sachs was named co-manager.
FDIC first talked about securitizing the mortgage pool two years ago. But the plan was put on hold when Ricki Helfer was named chairman of the agency, and it remained in limbo while agency officials debated the best way to proceed.
Now FDIC has decided to securitize the portion of the pool that is suitable for an all-investment-grade ...