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Article: PHH Discloses Closing of $1.0 Billion of TALF-Eligible Asset Backed Notes

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Wireless News
Article date:
June 12, 2009
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Wireless News
06-12-2009
PHH Discloses Closing of $1.0 Billion of TALF-Eligible Asset Backed Notes
Type: News

PHH Corp. announced the successful closing by its indirect subsidiary, Chesapeake Funding, of the issuance and sale of $1.0 billion in aggregate principal amount of its Series 2009-1 Floating Rate Asset Backed Notes ("Series 2009-1 Notes").

The Series 2009-1 Notes were rated AAA/Aaa by Standard & Poor's Rating Services and Moody's Investor Services respectively and qualified as "eligible collateral" under and as defined in the Term Asset-Backed Securities Loan Facility, or "TALF," established by the Federal Reserve Bank of New York.
In a release, the company noted that the net ...

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