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Article: PHH Corp. Closes $850 Million of TALF-Eligible Asset Backed Notes Issued by Chesapeake Funding LLC

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Wireless News
Article date:
September 14, 2009
Copyright

Wireless News
09-14-2009
PHH Corp. Closes $850 Million of TALF-Eligible Asset Backed Notes Issued by Chesapeake Funding LLC
Type: News

PHH Corp. announced on September 11 the successful closing by its indirect wholly-owned subsidiary, Chesapeake Funding LLC, of the issuance and sale of $850 million in aggregate principal amount of its Series 2009-2 Floating Rate Asset Backed Notes, Class A.

In a release, the group noted:
The 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 ...

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