Having recently been approved to underwrite mortgage-backed securities, W.J. Bradley Financial Services is planning to do just that, according to President Kent Usell.
“The intent is to issue this year,” Usell said, adding that the size of the deal would likely be no less than $500 million and would probably be structured as a 144A. Following this transaction, the broker-dealer would eventually go through shelf registration for a public deal. “With all the Reg AB changes it makes sense to wait,” Usell said.