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Gramercy Capital Corp., a newly formed specialty finance company, plans to use securitization as a source of funding, according to an S-11 filing with the Securities and Exchange Commission for the sale of $200 million in common stock. Gramercy specifically names collateralized debt obligations as a possibility.
Wachovia Securities is acting as sole lead on the IPO. The number of shares and the asking price have yet to be determined.
The nascent finance company will focus on originating and acquiring loans and...