|6 Months Ended|
Jun. 30, 2015
|Subsequent Events [Abstract]|
21. SUBSEQUENT EVENTS
These financial statements include a discussion of material events, if any, that have occurred subsequent to June 30, 2015 (referred to as “subsequent events”) through the issuance of these consolidated financial statements. Events subsequent to that date have not been considered in these financial statements.
On July 14, 2015, Newcastle settled on a trade to sell $380.4 million face amount of agency RMBS at an average price of 103.13% of par for total proceeds of approximately $392.3 million and recognized a loss of $5.9 million. Newcastle repaid $375.7 million of outstanding repurchase agreement liabilities in connection with this sale.
On July 14, 2015, Newcastle settled on a trade to purchase $201.9 million face amount of agency RMBS at an average price of 102.87% of par for total proceeds of approximately $207.7 million. This transaction was financed with $196.7 million of repurchase agreements.
On July 14, 2015, Newcastle settled on a trade to purchase $403.9 million face amount of agency RMBS at an average price of 102.88% of par for total proceeds of approximately $415.6 million. This transaction was financed with $393.8 million of repurchase agreements.
On August 3, 2015, Newcastle closed on the sale of two residential mortgage loans with face amount of $3.3 million for total proceeds of $2.8 million net of transaction expenses.
On August 4, 2015, Newcastle agreed to acquire from a third party $51.4 million outstanding face amount of first lien golf debt at a price of 90.0% of par, or $46.3 million, and $105.6 million outstanding face amount of second lien golf debt at a price of 90.0% of par, or $95.0 million. The purchases are expected to close in the third quarter 2015 and be funded with cash and short-term debt financing.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
No definition available.