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National Australia Bank (NAB) announced today that it has acquired approximately $1 billion of mortgages originated by RHG Ltd at net asset value.
This announcement came shortly after RHG reported a full repayment of one of two extendible commercial paper (XCP) facilities after a 180 day extension in August.
RHG expects the other XCP facility to be repaid in full during New York business hours today.
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To fund the repayments RHG says it has used, and expects to use, $3.5 billion of warehouse facilities, and a $750 million rated privately placed RMBS in addition to $1 billion NAB loan sale.
Published: 08-02-08
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