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Article: Midlantic completes sale of credit card receivables; announces sale of 250 million of home equity loan securities.
- Article from:
- PR Newswire
- Article date:
- July 2, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. 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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MIDLANTIC COMPLETES SALE OF CREDIT CARD RECEIVABLES; ANNOUNCES SALE OF
250 MILLION OF HOME EQUITY LOAN SECURITIES
EDISON, N.J., July 2 /PRNewswire/ -- Midlantic Corporation (NASDAQ: MIDL) today announced completion of the sale on June 30 of Midlantic's credit card accounts and receivables to Manufacturers Hanover Trust Company. Execution of an agreement to sell Midlantic's credit card accounts and receivables to Manufacturers Hanover was previously announced on June 6.
In a separate action, Midlantic today also announced that on June 28 it sold $250 million of securities backed by home equity revolving credit line loans ...