- According to the report, New Residential (NYSE:NRZ) has been unloading about $6B in non-agency paper over the past week.
- Exact pricing isn't known, but the bonds were no doubt sold at a discount.
- The company earlier today slashed its quarterly dividend to a nickel from $0.50, and reported a 25-30% decline in book value since the start of the year.
- Shares are down another 19% today.
New Residential sells debt to boost liquidity - Bloomberg
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