Price guidance for China's first cross-border CMBS by Macquarie Wanda Real Estate Fund - called Dynasty Assets - has been moved outwards to 75 to 85 basis points over Libor (ASR, 9/18/06). The $145 million deal, arranged by Citigroup and Macquarie Bank, had been due to price last week.

Initial guidance of 65 basis points had been set for the 2.75-year notes - rated A2'/'A' by Moody's Investors Service and Standard & Poor's. However, some market vets regarded that as optimistic given the alternatives available, and are not surprised guidance has been revised.

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