Top-rated Fortress CMBS seen swaps+190 to swaps+210

NEW YORK | Mon Nov 30, 2009 3:23pm EST

NEW YORK Nov 30 (Reuters) - The top-rated portion of a commercial mortgage bond from Fortress Investment Group will likely garner yields 190 basis points to 210 basis points over an interest-rate benchmark, an investor said on Monday, citing a note from underwriter Bank of America.

The $460 million issue would be only the second new U.S. commercial mortgage-backed security to be sold since mid-2008 and will likely be sold without aid of the Federal Reserve's emergency lending program.

Interest rate swap rates are the benchmark for the yield spread premiums.

(Reporting by Al Yoon; Editing by Dan Grebler)

((albert.yoon@thomsonreuters.com; +1 646-223-6347; Reuters Messaging: albert.yoon.reuters.com@reuters.net))

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