Printer Friendly

CORRECTION TO PRUDENTIAL SECURITIES DEBT ISSUE AND MORTGAGE PURCHASE TRANSACTION

 /C O R R E C T I O N -- PRUDENTIAL SECURITIES/
 In NY076, Freddie Mac and Prudential Securities Debt Issue and


Mortgage Purchase Transaction, moved yesterday, in third paragraph first line should read -- "The medium-term note structure" and end of second line should read "analytics driven by the"...
 The corrected release follows:
 NEW YORK, Aug. 14 /PRNewswire/ -- Prudential Securities, the third largest brokerage firm, announced today that the company is lead manager of $1 billion of medium-term notes of Freddie Mac, a stockholder-owned corporation chartered by Congress in 1970 to provide continuous flow of funds to mortgage lenders. Lehman Brothers and PaineWebber are co- managers on the deal.
 Under the terms of the transaction, Freddie Mac will issue approximately $1 billion of debt through its medium-term note program. The transaction will involve 17 different debt issues, with maturities ranging from 6 months to 30 years. Simultaneously, Freddie Mac will purchase $1 billion in participation certificates from Prudential Securities. The securities will be backed by mortgages with a variety of coupons and delivery months.
 The medium-term note structure incorporated a series of callable and bullet maturities that was determined optimal via proprietary analytics driven by the melding of the Prudential Securities Prepayment Model and the Debenture Optimization Model.
 Prudential Securities Incorporated is a fully diversified global securities firm headquartered in New York City. The firm is the third largest full-service brokerage concern in the United States.
 -0- 8/15/92 R


CO: Prudential Securities ST: New York IN: FIN SU:

JP -- NYSA003 -- 0334 08/17/92 07:58 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 17, 1992
Words:259
Previous Article:XIRCOM INTRODUCES FIRST PCMCIA CARD FOR LAN CONNECTIVITY
Next Article:SENTRA, SPELMAN AND TITAN AGREE TO FORM HOLDING COMPANY; NASD OFFICIAL KYE HELLMERS TO BECOME HEAD OF NEW ENTITY
Topics:


Related Articles
FREDDIE MAC AND PRUDENTIAL SECURITIES ANNOUNCE SIMULTANEOUS DEBT ISSUE AND MORTGAGE PURCHASE TRANSACTION
CORRECTION TO FREDDIE MAC AND PRUDENTIAL SECURITIES DEBT ISSUE AND MORTGAGE PURCHASE TRANSACTION
PRUDENTIAL HOME MORTGAGE CLOSES $1.1 BILLION UNSECURED WAREHOUSE LINE
UGI'S AMERIGAS SUBSIDIARY CONCLUDES $1.12 BILLION OF EQUITY & DEBT OFFERINGS; ACQUIRES REMAINING INTEREST IN PETROLANE INCORPORATED
PRUHOME, SASI RATINGS UNAFFECTED BY NORWEST SALE, FITCH SAYS -- FITCH FINANCIAL WIRE --
NORWEST MORTGAGE'S NEW AFFILIATE, NASCOR, TO ISSUE MORTGAGE-BACKED SECURITIES
DCR: Norwest Asset Securities Corporation $99,986,506 Mortgage Pass-Through Certificates Series 1996-6 30-Year, Fixed-Rate Relocation Mortgages
Aames Announces $630 Million Securitizations
Prudential Securities Appointed Investment Banker Advisor in First Phase Refinancings for Utilities in Texas.
Prudential Securities Secured Financing Corp. Rating Assigned to Class J of Series 1998-C1.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters