Delta Funding Sells $340 Million of Asset-Backed Securities.WOODBURY Woodbury. 1 Residential city (1990 pop. 10,904), seat of Gloucester co., SW N.J., in the Philadelphia–Camden metropolitan area; settled 1683, inc. as a city 1871. It is a trade and service center, and petrochemical companies are nearby. , N.Y.--(BUSINESS WIRE)--September 15, 1997--Delta Funding Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Delta Financial Corporation (NYSE NYSE See: New York Stock Exchange : DFC DFC - A dataflow language. ["Data Flow Language DFC: Design and Implementation", S. Toshio et al, Systems and Computers in Japan, 20(6):1- 10 (Jun 1989)]. ), sold $340 million of closed-end home equity loan-backed securities priced in thirteen parts by underwriters led by Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. Inc. Donaldson, Lufkin & Jenrette Securities Corporation is also underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. the issue. Common terms: Seller: Delta Funding Corporation Trust: Delta Funding Home Equity Loan Trust 1997-3 Structure: Senior-subordinate Settlement: September 26, 1997 Payable: Monthly beginning October 25, 1997 -0-
A1F A2F A3F A4F
Amount (millions): $91.302 $17.395 $55.396 $14.014
Coupon: - 6.590% 6.630% 6.930%
Price: 100.000000 99.984375 99.984375 99.968750
Yield: - 6.445% 6.561% 6.925%
Spread (basis pts): 9 52 54 75
Treasury: 1 mth libor 2 yr treasury 3 yr treasury 5 yr treasury
Average Life (years): 1.00 2.00 3.02 5.00
Moody's/Fitch: Aaa/AAA Aaa/AAA Aaa/AAA Aaa/AAA
A5F A6F M1F
Amount (millions): $20.643 $26.500 $16.562
Coupon: 7.250% 6.860% 7.080%
Price: 100.000000 99.953125 99.968750
Yield: 7.289% 6.878% 7.091%
Spread (basis pts): 95 63 85
Treasury: 6.625% 5/07 5.875% 2/04 5.75% 8/03
Average Life (years): 9.94 6.61 6.09
Moody's/Fitch: Aaa/AAA Aaa/AAA Aa2/AA
M2F B1F A1A
Amount (millions): $12.588 $10.600 $59.250
Coupon: 7.330% 7.650% -
Price: 99.968750 99.968750 100.000000
Yield: 7.341% 7.661% -
Spread (basis pts): 110 145 20
Treasury: 5.75% 8/03 6.25% 2/03 1 mth libor
Average Life (years): 5.99 5.56 2.71
Moody's/Fitch: A2/AA Baa3/BBB Aaa/AAA
M1A M2A B1A
Amount (millions): $6.750 $5.250 $3.750
Coupon: - - -
Price: 100.000000 100.000000 100.000000
Yield: - - -
Spread (basis pts): 37 57 100
Treasury: 1 mth libor 1 mth libor 1 mth libor
Average Life (years): 6.12 6.12 6.05
Moody's/Fitch: Aa2/AA A2/AA Baa3/BBB
Delta Funding Corporation, based in Woodbury, New York Woodbury is the name of some places in the U.S. state of New York:
A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. in the business of originating, purchasing, selling and servicing home equity mortgage loans since 1982. Its parent, Delta Financial Corporation, went public in November 1996. This news release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. CONTACT: Delta Financial Corporation Hugh Miller Hugh Miller (1802 – 1856) was a self-taught Scottish geologist and writer and an evangelical Christian. Born in Cromarty, he had an ordinary parish school education, but soon showed a remarkable love of reading and power of story-telling. President and Chief Executive Officer 516/364-8500 -OR- Jaffoni & Collins Incorporated David C. Collins 212/505-3015 or collins@jcir.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion