Newcastle Investment (NCT) gained on HSBC deal
Newcastle Investment Corp. (NYSE: NCT) shares hiked 1.1% to $11.25, on word it has signed a definitive agreement to acquire up to 50% of a $4.2-billion unpaid principal balance portfolio of consumer loans from HSBC Finance Corporation. Newcastle intends to co-invest alongside Springleaf Finance, Inc., a Fortress affiliate, who will also be responsible for servicing the loans. Share volume was 306,000, compared to an all-day average of 909,000
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