Key Developments: Newcastle Investment Corp (NCT)
5.33USD
19 Jun 2013
$-0.15 (-2.74%)
$5.48
$5.50
$5.52
$5.30
3,713,455
6,574,289
$12.49
$4.93
Latest Key Developments (Source: Significant Developments)
Newcastle Investment Corp Announces Upsizing And Pricing Of Public Offering of Common Stock
Newcastle Investment Corp. announced that it priced a public offering of shares of its common stock. The size of the offering has been upsized from 30,000,000 shares to 35,000,000 shares, for gross proceeds of $174.0 million. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 5,250,000 shares of common stock. The offering is expected to close on June 17, 2013, subject to customary closing conditions. The Company intends to use the net proceeds from the offering for general corporate purposes, including to make a variety of investments, which the Company expects to primarily include acquisitions of senior housing properties, but which could also include acquisitions of CDO debt, other real estate securities and loans, operating businesses or other assets. Full Article
Newcastle Investment Corp Announces Public Offering of Common Stock
Newcastle Investment Corp announced that it plans to make a public offering of 30,000,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters an option for 30 days to purchase up to an additional 4,500,000 shares of common stock. The Company intends to use the net proceeds from the offering for general corporate purposes, including to make a variety of investments, which the Company expects to primarily include acquisitions of senior housing properties, but which could also include acquisitions of CDO debt, other real estate securities and loans, operating businesses or other assets. BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and UBS Securities LLC are the joint book-running managers for the offering. Full Article
Newcastle Investment Corp Announces Sale of CDO IV Assets
Newcastle Investment Corp announced that it has completed the sale of 100% of the assets in Newcastle CDO IV. Newcastle sold $153 million face amount of collateral at an average price of 95% of par, or $145 million. The sale will result in $77 million of third-party debt being paid off at par and the termination of the trust.Newcastle directly holds approximately 50% of CDO IV`s capital structure. This transaction will result in approximately $68 million of proceeds to Newcastle. Newcastle will recover par on $60 million of CDO debt which had been repurchased in the past at an average price of 52 cents and $8 million of proceeds to its subordinated interests. Newcastle expects the final distribution of funds from CDO IV to occur on or about June 24th. Full Article
Newcastle Investment Corp Declares Common Stock Dividend of $0.17 per Share for Second Quarter and Preferred Stock Dividends
Newcastle Investment Corp announced that its Board of Directors has declared a quarterly dividend of $0.17 per common share for the second quarter of 2013. The dividend is payable on July 31, 2013 to shareholders of record on June 13, 2013. The second quarter dividend includes forty-five days of earnings generated by assets that were subsequently spun-off to form New Residential Investment Corp. on May 15, 2013. The Board of Directors also declared dividends on the Company's Series B, Series C and Series D preferred stock for the period beginning May 1, 2013 and ending July 31, 2013. The dividends are payable on July 31, 2013 to shareholders of record on June 13, 2013. The Company will pay total dividends of $0.609375, $0.503125 and $0.523438 per share on the 9.75% Series B, 8.05% Series C and 8.375% Series D preferred stock, respectively. Full Article
Newcastle Investment Corp Announces Completion Of Spin-Off Of New Residential
Newcastle Investment Corp announced that the spin-off of New Residential Investment Corp. (New Residential) was completed on May 15, 2013. Starting today New Residential will begin trading on the New York Stock Exchange under the symbol NRZ. Holders of Newcastle common stock as of the record date, May 6, 2013, have been electronically issued one share of New Residential common stock for each share of Newcastle common stock held as of the record date. Full Article
Newcastle Investment Corp Sets Record Date For Spin-Off Of New Residential Investment Corp-Form 8K
Newcastle Investment Corp announced that its board of directors has set a record date on May 6, 2013 for the spin-off of New Residential Investment Corp, a wholly owned subsidiary of Newcastle. Newcastle will distribute one share of New Residential common stock for each share of Newcastle common stock held by Newcastle stockholders of record as of the Record Date. The distribution of New Residential common stock is expected to occur on or about May 15, 2013. Full Article
Newcastle Investment Corp Sets Record Date And Distribution Date For Spin-off Of New Residential Investment Corp.
Newcastle Investment Corp announced that Board of Directors has formally declared the distribution of shares of common stock of New Residential Investment Corp. (New Residential), a wholly owned subsidiary of Newcastle. The distribution will complete the spin-off of New Residential from Newcastle. Following the distribution, New Residential will be an independent, publicly-traded real estate investment trust (REIT) primarily focused on investing in residential mortgage related assets. The distribution will be made on or about May 15, 2013 (the Distribution Date) to Newcastle stockholders of record (Newcastle Record Holders) on May 6, 2013 (the Record Date). Full Article
Newcastle Investment Corp Announces Closing Of Interest In Consumer Loan Portfolio From HSBC Finance Corp
Newcastle Investment Corp announced that it has acquired from HSBC Finance Corp (HSBC) a 30% equity interest in a consumer loan portfolio with an unpaid principal balance (UPB) of $4.2 billion as of December 31, 2012. Newcastle invested alongside Springleaf Finance, Inc. (Springleaf), a Fortress affiliate who will also be responsible for servicing the loans, and Blackstone Tactical Opportunities Advisors L.L.C. The total purchase price for the portfolio is approximately $3.0 billion, inclusive of closing costs, fees and adjustments related to estimated net cash flows received by HSBC between December 31, 2012 and March 31, 2013. The investment is financed using $2.2 billion of asset backed notes and the balance of the purchase price is funded with approximately $800 million of equity. Newcastle’s initial equity investment is approximately $250 million. Full Article
Newcastle Investment Corp Declares Common Stock Dividend of $0.22 per Share for First Quarter and Preferred Stock Dividends
Newcastle Investment Corp announced that its Board of Directors has declared a quarterly dividend of $0.22 per common share for the first quarter of 2013. The dividend is payable on April 30, 2013 to shareholders of record on March 25, 2013. The Board of Directors also declared dividends on the Company's Series B, Series C and Series D preferred stock for the period beginning February 1, 2013 and ending April 30, 2013. The dividends are payable on April 30, 2013 to shareholders of record on March 25, 2013. The Company will pay total dividends of $0.609375, $0.503125 and $0.523438 per share on the 9.75% Series B, 8.05% Series C and 8.375% Series D preferred stock, respectively. Full Article
HSBC Finance Corp Enters Into Agreement To Sell Personal Unsecured Loan And Personal Homeowner Loan Portfolios To Springleaf Finance, Inc. And Newcastle Investment Corp's SpringCastle Acquisition LLC
HSBC Finance Corp announced HSBC Finance Corporation (HFC), an indirect wholly-owned subsidiary of HSBC Holdings plc, has entered into an agreement to sell its Personal Unsecured Loan and Personal Homeowner Loan portfolios to SpringCastle Acquisition LLC (SpringCastle), a Delaware-based company owned by Springleaf Finance, Inc. ('Springleaf') and Newcastle Investment Corp. (Newcastle). The portfolios sale transaction is scheduled for completion in the second quarter of 2013. HFC has also entered into an agreement to sell its loan servicing facility and related assets in London, Kentucky ('the Facility') 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. The total consideration to be paid by SpringCastle and Springleaf is USD3.2 Billion in cash. Full Article
Australia's NSW govt plans sale of Newcastle coal port
LONDON, June 18 - Australia's most populous state, New South Wales, said it plans to sell Newcastle port, the world's biggest coal export terminal, meaning another chunk of the country's vast resources industry could be sold to foreign buyers.
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