Hitting the market with a larger deal than previously expected, Warburg Dillon Read LLC will be issuing its inaugural commercial mortgage-backed securities conduit for approximately $1.5 billion in late March, partnering with either Lehman Brothers Inc., Morgan Stanley Dean Witter, or Salomon Smith Barney, according to company officials.

The choice of partner was to be announced by the end of last week, but officials at Warburg would not disclose the identity of the company at press time.

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