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Developers Diversified CMBS price levels marketed

Thu Nov 12, 2009 10:49am EST

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NEW YORK, Nov 12 (Reuters) - U.S. mall owner Developers Diversified Realty Corp (DDR.N) may sell most of its planned $400 million commercial mortgage bond at a yield as low as 1.6 percentage points over an interest rate benchmark, according to Thomson IFR on Thursday.

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The issue, the first U.S. commercial mortgage-backed bond since mid-2008, is being made possible by the Federal Reserve's emergency lending program, the Term Asset-Backed Securities Loan Facility. (Reporting by Al Yoon; Editing by James Dalgleish)

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