Thornburg Establishes $5B CP Facility

Published July 06, 2004, 2:00 p.m. EDT

1 Min Read

Thornburg Mortgage Inc., Santa Fe, N.M., has reported the establishment of a new, $5 billion asset-backed commercial paper facility.The company said the facility provides it with another way to finance its adjustable-rate mortgage securities portfolio. Thornburg Mortgage Capital Resources LLC, a special-purpose bankruptcy-remote entity created especially for the transaction, will act as the financing vehicle by issuing commercial paper in the form of secured liquidity notes, Thornburg said. Lehman Brothers Inc. is the structuring agent and lead dealer for the transaction. Thornburg can be found online at http://www.thornburg.com.

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