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MMA Capital Management sells assets to finance renewable lending investments

MMA Capital Management LLC is set to get $14.1 million, plus accrued interest, through the sale of various assets aimed at making more capital available for its renewable lending investments.

MMA Capital Management terminated 15 total return swap agreements with an aggregate notional amount of $102.6 million, reducing its leveraged bond portfolio. It also terminated a pay-fixed interest rate swap agreement valued at $65 million in notional amount. The company also sold a multifamily tax-exempt bond and a subordinate certificate interest in a multifamily tax-exempt bond.

Also, the company expects to complete at least two additional dispositions from its leveraged bond portfolio in January 2019, as part of the planned redeployment of capital, which can potentially bring in another $9 million for the company to apply toward its investment goal.