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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.
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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