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Newcastle Announces Third Quarter 2012 Results

Stocks in this article: NCT

The following table summarizes the cash receipts in the quarter from the Company’s consolidated CDO financings and the results of their related coverage tests ($ in thousands):

 
                    Interest                        
Coverage

Primary

% Excess

(Deficiency)

Over-Collateralization Excess (Deficiency) (2)(3)
Collateral Cash Sep 30, September 30, 2012 June 30, 2012
Type Receipts (1) 2012 (2)

%

$ % $
CDO IV Securities $ 378 47.4% 0.1% 213 -3.6% (6,433)
CDO VI Securities 134 -80.1% -64.8% (176,780) -63.9% (177,738)
CDO VIII Loans 6,492 418.7% 9.8% 70,553 12.9% 82,127
CDO IX Loans 8,709 537.2% 20.6% 127,199 19.5% 125,699
15,713
 
CDO X 9,854
Total $ 25,567
 

(1) Cash receipts exclude $10 million of principal repayments from repurchased bonds and $124 million of proceeds in connection with the sale of CDO X interests. Cash receipts for the quarter ended September 30, 2012 may not be indicative of cash receipts for subsequent periods. See Forward-Looking Statements below for risks and uncertainties that could cause cash receipts for subsequent periods to differ materially from these amounts.

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