Banks flex up pricing

Price poser: Employees of The Cosmopolitan celebrate at an event announcing cash bonuses for employees. The commercial mortgage bond offering tied to the casino is touted as the biggest US-backed security deal this year. — AP

NEW YORK: The banks marketing a roughly US$3bil (RM13.1bil) commercial mortgage bond offering tied to The Cosmopolitan of Las Vegas have sweetened the terms of the deal in an effort to lock in investors and pricing.

The transaction, touted as the biggest United States commercial mortgage backed security deal for 2022, was expected to price earlier this week.