Developers Diversified Realty (DDR +6.7%) sells $400M of shopping-center-backed debt in the...

|About: DDR Corp. (DDR)|By:, SA News Editor

Developers Diversified Realty (DDR +6.7%) sells $400M of shopping-center-backed debt in the first such offering through TALF since the Fed opened the program to commercial-mortgage debt in June. Strong demand allowed the company to reduce spreads to 140 basis points from as much as 175 bp.