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Stock Market & Financial Investment News

News Breaks
March 5, 2013
08:56 EDTNCT, HBC, FIGHSBC to sell loan portfolios to Springleaf, Newcastle for $3.2B
HSBC Finance Corporation, an indirect wholly-owned subsidiary of HSBC Holdings (HBC), has entered into an agreement to sell its Personal Unsecured Loan and Personal Homeowner Loan portfolios to SpringCastle Acquisition LLC, a Delaware-based company owned by Springleaf Finance and Newcastle Investment Corp. (NCT). The portfolios sale transaction is scheduled for completion in the second quarter of 2013 and is subject to customary closing conditions. HFC has also entered into an agreement to sell its loan servicing facility and related assets in London, Kentucky to Springleaf. Completion of the sale of the building and assets, which is subject to customary closing conditions, is expected in the fourth quarter of 2013, following a transitional period to allow for the conversion of loans being sold to SpringCastle. Upon completion of the sale of the Facility, the majority of employees located in the Facility will transfer to become employees of Springleaf. At December 31, 2012, the carrying value of the gross assets being sold was approximately $4.3B. The total consideration to be paid by SpringCastle and Springleaf is $3.2B.
News For HBC;NCT;FIG From The Last 14 Days
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December 19, 2014
17:20 EDTFIGNew Senior names Justine A. Cheng as CFO
The Board of Directors of New Senior Investment Group (SNR) has appointed Justine A. Cheng as CFO and Treasurer effective as of December 19. New Senior was spun off from Newcastle Investment Corp. as an independent publicly traded company in November and is managed by Newcastle’s manager, FIG, which is an affiliate of Fortress Investment Group (FIG). Cheng has been actively involved with New Senior as CFO and Treasurer of Newcastle.
08:34 EDTFIGFortress potential into 2015 accelerating, says JMP Securities
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December 18, 2014
18:03 EDTFIGFortress looks to sell TRAC Intermodal, Reuters says
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17:50 EDTFIGFortress looks to sell TRAC Intermodal, Reuters says
December 15, 2014
09:08 EDTFIGMicroFinancial agrees to be acquired by funds managed by Fortress
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