Paragon Group of Companies buys more RBS loans
The Paragon Group of Companies has purchased further unsecured loans through its Idem Capital Securities subsidiary from The Royal Bank of Scotland under the terms of a forward flow agreement.
The Paragon Group of Companies has purchased further unsecured loans through its Idem Capital Securities subsidiary from The Royal Bank of Scotland under the terms of a forward flow agreement.
The consideration, which is being funded through the firm's cash reserves, totals £25,000, representing the value at which the acquired loans will be taken on to the group's balance sheet.
Paragon previously purchased a portfolio of loans from The Royal Bank of Scotland for £43.2m, under an agreement which included subsequent announcements of further modest acquisitions of unsecured consumer loans from time to time.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company expects this latest acquisition to be earnings enhancing in the current finanial year.
The share price fell 2.25% to 200p by 15:19.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published