FDIC plans to sell $1 billion of bonds tied to real estate
The Federal Deposit Insurance Corp. plans to sell almost $1 billion of securities tied to residential and commercial real-estate debt once held by failed banks, according to a person familiar with the transaction. The agency is selling guaranteed notes backed by the debt, said the person, who declined to be identified because the transactions are private. The FDIC is offering bonds from three securitizations through Barclays Capital, the person said. Two are tied to residential debt, and total $160.2 million and $135.7 million, the person said. An additional $679 million of bonds are tied to commercial-property debt, the person said.