Summary
Solihull-based mortgage lender Paragon raised nearly pounds 290 million from investors yesterday to meet the shortfall in funding from the wholesale credit markets.
The company, which is known as a specialist in buy-to-let loans to private landlords, turned to the equity market after falling victim to the global credit squeeze sparked by the meltdown of the sub-prime lending sector in the US last year.See the full content of this document
Extract
Shareholders Back Paragon to the Hilt ; Finance
Paragon, which announced a 25-for-1 rights issue at a discount rate of 90 per cent last month, was the first UK bank to tap shareholders for ...
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