BofA, JPMorgan sell $650M in bonds tied to One Bryant Park

One Bryant Park

Bank of America and JPMorgan Chase have sold $650 million in bonds tied to a loan at One Bryant Park, the 51-story, 2.1 million-square-foot Skyscraper On Sixth Avenue And 42nd Street also known as the Bank of America Tower. According to Bloomberg, the issue was only the third sale this year of new commercial mortgage-backed securities that contained loans not backed by the government. With the One Byrant Park deal, sales of this kind total $1.67 billion nationwide thus far for 2010. Last year, $3.04 billion of debt was issued, down from $11.2 billion in 2008 and the record-breaking $232.4 billion in 2007. [Bloomberg] 

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