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March 8, 2024

$1B Later and NYCB Still Has Work to Do

As featured in “GlobeSt.com”
Richard Berger, GlobetSt.com, 08 March 2024

GlobeSt.com recently featured a comprehensive piece on New York Community Bank’s (NYCB) substantial $1 billion equity infusion. They reached out to RREAF Holdings’ Chief Operating Officer, Jeff Holzmann, for comments and insight in this latest story. See what Jeff Holzmann had to say about this.


Tdorante10, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons

More fundamentally, raising funds in exchange for equity doesn’t cancel the fact that it still has mountains of bad debt, Jeff Holzmann, Chief Operating Officer at RREAF Holdings, tells GlobeSt.com. “The funds raised will help the bank with liquidity, restructuring of its practices (as the bank put it), and maintaining its share price. In other words, it’s a lifeline to avoid spiraling out of control.”

RREAF Holdings appreciates the opportunity provided by GlobeSt.com to contribute to the ongoing dialogue surrounding this significant financial development. You can find the complete story here.