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New Residential sells debt to boost liquidity - Bloomberg

Mar. 31, 2020 3:22 PM ETRithm Capital Corp. (RITM) StockRITMBy: Liz Kiesche, SA News Editor169 Comments
  • 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.

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