Western Asset Mortgage Capital prices $351.9M mortgage-backed notes

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• Western Asset Mortgage Capital (NYSE:WMC) priced $351.9M mortgage-backed notes, carrying a weighted average fixed interest rate of ~5.9% per annum.
• The securitization comprises of a portfolio of residential whole loans.
• The final payment date for the notes, to be issued in a private placement to qualified institutional investors and non-U.S. persons, is expected to be in July 2057.
• The offering, subject to customary closing conditions, is expected to close on or about Jul. 13.
• Source: Press Release

Comments

[Randol33]

Guess they need money to raise money in order to remain solvent.