Edition:
United States

Metro Bank Announces Mortgage Book Acquisition For 523 Mln Pounds ​


Friday, 23 Feb 2018 10:50am EST 

Feb 23 (Reuters) - Metro Bank Plc ::AGREED TO ACQUIRE A PORTFOLIO OF UK MORTGAGES ( "PORTFOLIO") FROM CERH RSMC SUB B.V. AND CAPITAL HOME LOANS LIMITED FOR £523M​.‍DEAL IS EXPECTED TO COMPLETE ON 1 MARCH 2018​.‍CONSIDERATION OF £523M REPRESENTS VALUE AT WHICH ACQUIRED MORTGAGES WILL BE TAKEN ON TO BANK'S BALANCE​.‍CONSIDERATION ONSIDERATION IS BEING FINANCED USING CASH FROM EXISTING RESOURCES.​.‍PORTFOLIO IS BEING ACQUIRED AT A DISCOUNT TO PAR​.