By Josh Beckerman
Doral Financial Corp. (DRL) said a subsidiary of its Doral Bank
unit sold about $429.3 million of mortgage pass-through
certificates to Barclays PLC (BCS, BARC.LN).
Doral Financial said the latest transaction is part of an
asset-sale process that will "help Doral continue to progress by
de-risking the bank, preserving capital and increasing
liquidity."
The sale resulted in proceeds of about $423 million to Doral
Bank.
Doral shares fell sharply in August when the company said
settlement discussions with Puerto Rico's Department of the
Treasury concerning disputed tax credits ended.
In late trading Tuesday, Doral shares were up 15% to $7.15.
Write to Josh Beckerman at josh.beckerman@wsj.com
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