| Deal Description | Chase Manhattan Mortgage and Realty Trust used the net proceeds from this transaction to pay commercial paper obligations of the trust as such obligations mature and to fund additional advances on investment commitments of the trust. It was expected that at least 50% of the net proceeds would be used to satisfy maturing commercial paper obligations. Pending disbursement for such purposes, the net proceeds may have been temporarily invested in short-term government securities, obligations of the Federal National Mortgage Association, bankers acceptances, certificates of deposit of commercial banks and savings and loan associations, deposits in members of the Federal Home Loan Bank System, time deposits or repurchase obligations secured by short-term government securities, bank certificates of deposit, or obligations of the Federal National Mortgage Association. |
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