February 23, 2018 / 3:58 PM / 7 months ago

BRIEF-Metro Bank Announces Mortgage Book Acquisition For 523 Mln Pounds ​

Feb 23 (Reuters) - Metro Bank Plc:

* AGREED TO ACQUIRE A PORTFOLIO OF UK MORTGAGES ( “PORTFOLIO”) FROM CERH RSMC SUB B.V. AND CAPITAL HOME LOANS LIMITED FOR £523M​

* ‍DEAL IS EXPECTED TO COMPLETE ON 1 MARCH 2018​

* ‍CONSIDERATION OF £523M REPRESENTS VALUE AT WHICH ACQUIRED MORTGAGES WILL BE TAKEN ON TO BANK’S BALANCE​

* ‍CONSIDERATION ONSIDERATION IS BEING FINANCED USING CASH FROM EXISTING RESOURCES.​

* ‍PORTFOLIO IS BEING ACQUIRED AT A DISCOUNT TO PAR​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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