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Article: ContiMortgage Prices $800 Million Home Equity Loan ABS.
- Article from:
- Business Wire
- Article date:
- June 9, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--June 9, 1999--
ContiMortgage Corporation, a subsidiary of ContiFinancial Corporation (NYSE:CFN), has priced a $800 million home equity loan asset backed security issue.
This issue, ContiMortgage Home Equity Loan Trust 1999-3, is structured using a combination of a subordinated class and a 100% surety wrap credit enhancement.
The bonds to be issued by the Trust will include ten tranches as follows:
Amount
Class ($ Millions)Coupon S&P/Moody's
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A-1 $127.601 6.020% AAA/Aaa
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