Printer Friendly

ASSET INVESTORS CORP. SELLS $48,000,000 PRINCIPAL AMOUNT OF SECURED, FIXED-RATE NOTES

 DENVER, Jan. 5 /PRNewswire/ -- Asset Investors Corp. (NYSE: AIC) today announced that it had issued $48,000,000 of fixed-rate, collateralized notes to a group of institutional investors. The notes, which bear interest at 7.70 percent per annum, are secured by various CMO ownership interests, are due in quarterly installments through May 20, 2004, and have a weighted average life of approximately four years.
 Spencer I. Browne, president and chief executive officer of the company, stated, "A portion of the proceeds from the sale of the notes will be used to pay down short-term, floating-rate REPO debt; and the balance will be used to acquire new mortgage interests." Browne added, "The issuance of this secured, non-recourse debt will improve the company's overall financial condition."
 Asset Investors Corp. is a real estate investment trust which generates income from a portfolio of ownership interests in issuances of collateralized mortgage obligations (CMOs) and other mortgage-related assets.
 -0- 1/5/93
 /NOTE TO EDITORS: Receive the latest information about Asset via fax, no cost. 1-800-PRO-INFO, code 016/
 /CONTACT: Spencer I. Browne, president and CEO, or Michael H. Feinstein, executive vice president of AIC, 303-793-2703; or Gary Strong, 312-266-7800, or Regina Ryan, 212-661-8030, both of the Financial Relations Board, for AIC/
 (AIC)


CO: Asset Investors Corp. ST: Colorado IN: FIN SU: TNM

GK -- NY019 -- 1584 01/05/93 09:37 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 5, 1993
Words:227
Previous Article:BARR NAMES NEW PRESIDENT AND CHIEF OPERATING OFFICER
Next Article:TEAM REPORTS RESULTS OF OPERATIONS FOR THE SECOND QUARTER OF FISCAL 1993
Topics:


Related Articles
ML ASSET BACKED CORP. MONEY MARKET NOTES RATED 'AAA/F-1+' BY FITCH -- FITCH FINANCIAL WIRE --
FUND AMERICA INVESTORS CORPORATION II $129,000,000 MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993-G RATED BY DUFF & PHELPS
DUFF & PHELPS RATES STANDARD CREDIT CARD MASTER TRUST I, SERIES 1993-3
DUFF & PHELPS RATES STANDARD CREDIT CARD MASTER TRUST I, SERIES 1994-1, CITIBANK(SOUTH DAKOTA) N.A., CITIBANK (NEVADA) NATIONAL ASSOCIATION
DUFF & PHELPS: COUNTRYWIDE FUNDING $189,445,354 MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994-17 30 YEAR FIXED RATE MORTGAGES RATED
Kerr Executes Commitment For Refinancing
S&P Assigns 'AAA' to Turquoise Funding II $250 Million FRNs
Capital Trust, Inc. Announces Offering of $317 Million of Collateralized Debt Obligations.
Evergreen Investments Announces New Financing Arrangement for Three Closed End Funds to Partially Redeem the Funds' Auction Preferred Shares.
Yukon-Nevada Gold Corp.'s United States subsidiary negotiates US$35 million Senior Secured Promissory Notes financing.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters