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11 Jan, 2008


Marcel Le Gouais
Date: 11-Jan-2008
Paragon Group has this morning revealed it will raise £287m of capital from shareholders through a rights issue.
The buy-to-let lender says this will ensure it will be able to repay all outstanding debts up until 2017.
Paragon is seeking to put in place new financing facilities and when these have been settled, it will launch a new range of buy-to-let products for new lending.
The share price plunged nearly 38% to 63p in this morning's trading.

       
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