UPDATE: Newcastle Investment Buys Interest in Consumer Loan Portfolio from HSBC
Newcastle Investment Corp. (NYSE: NCT ) announced today that it has signed a definitive agreement to acquire up to 50% of a $4.2 billion unpaid principal balance (“UPB”) portfolio of consumer loans from HSBC Finance Corporation (NYSE: HBC ). Newcastle intends to co-invest alongside Springleaf Finance, Inc. (“Springleaf”), a Fortress affiliate, who
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