Investor demand for the innovative A$133 million commercial mortgage-backed securitization by retailer David Jones was sufficiently strong to cause lead manager Deutsche Bank to bring forward the pricing by a week.

The deal was part of an elaborate A$366 million sale-and-leaseback package, A$166 million which reflected the value of refurbishment work: the deal was said to be the first rated by Standard & Poor's involving a portfolio under refurbishment.

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