Wednesday, Nov 21, 2007
Further evidence on the BTL squeeze
International Herald Tribune: British mortgage lender falls as it considers share sale
Shares of Paragon Group, the British mortgage lender that gets all its funding in capital markets, sank as much as 50 percent Tuesday after the company said profit had fallen and it might need to raise £280 million in a share sale.
"The future for Paragon hinges on the reopening of the securitization market," said Simon Willis, an analyst at NCB Group in London. If the market does not loosen by February, he said, Paragon might be forced to look for a buyer.
Posted by joe le taxi @ 08:57 AM (235 views) Add Comment
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