16th Jan 2020 16:33
(Alliance News) - EJF Investments Ltd on Thursday said it has invested GBP12.6 million in a loan note securtisation backed by US banks and insurance companies.
The Jersey-incorporated company has invested the preferred shares issued by TruPS Financials Note Securitization 2019-2, which is backed by trust-preferred securities, surplus notes, and senior notes issued by 34 US banks and 24 US insurance companies and their holding companies with an aggregate value of USD338.4 million.
The new investment represents the company's eighth risk retention investment in a securitisation sponsored by EJF Capital LLC and represents the continuation of the company's focus on equity tranches of collateralised debt obligations backed by US small and medium banks and insurance companies.
EJF Investments shares on Thursday closed at 160.00 pence each in London, down 5.9%.
By Tapan Panchal; [email protected]
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