Thornburg Expands CP Facility to $10B

Published January 05, 2006, 3:00 p.m. EST

1 Min Read

Thornburg Mortgage Inc., Santa Fe, N.M., has reported doubling the size of its asset-backed commercial paper facility to $10 billion.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 CP facility, acts as the financing vehicle by issuing commercial paper in the form of short-term notes, Thornburg said. Lehman Brothers Inc. is the structuring agent and lead dealer for the transaction. Thornburg, a real estate investment trust and mortgage lender focused on the jumbo ARM segment, can be found online at http://www.thornburg.com.

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