Charter Court agrees sale of interest in CMF 2017-1
Source - SMW
Charter Court Financial Services Group has agreed to sell its entire economic interest in the Charter Mortgage Funding 2017-1 plc securitisation to Merrill Lynch International for £26.5m in cash.
It said the transaction, which was expected to complete today, would involve the sale of the Class Z and subordinated notes and the residual certificates ('RC1s and RC2s' and, together with the Class Z and subordinated notes, the "Bonds") to the securitisation.
BofAML managed the sale process and purchased the bonds for onward sale.
It said the transaction would generate a pre-tax gain of £15.0 million which would be attributed to the 2018 financial year.
At 8:22am: (LON:CCFS) Charter Court Financial Services Group Plc Ord 1p Wi share price was -1.5p at 286p