SUBSEQUENT EVENTS |
9 Months Ended |
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Sep. 30, 2015 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS
These consolidated financial statements include a discussion of material events, if any, that have occurred subsequent to September 30, 2015 (referred to as subsequent events) through the issuance of these consolidated financial statements.
In October 2015, Newcastle settled on a trade to sell $348.9 million face amount of agency RMBS at an average price of 104.32% of par for total proceeds of approximately $364.0 million and recognized a gain of $5.1 million. Newcastle repaid $345.9 million of outstanding repurchase agreement liabilities in connection with this sale (see Note 5).
In October 2015, Newcastle settled on a trade to purchase $354.8 million face amount of agency RMBS at an average price of 104.42% of par for total proceeds of approximately $370.5 million. This transaction was financed with $352.6 million of repurchase agreements (see Note 5).
In October 2015, Newcastle financed an unencumbered real estate related loan with a face amount of $19.4 million with a note payable for $11.7 million. This note payable bears interest at one month LIBOR + 3.00%, matures in October 2016 and is subject to customary margin provisions.
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- References No definition available.
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- Definition 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.
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