Bankers Trust Co. has set up three credit facilities totaling $125 million for Puerto Rico's largest mortgage banking company.

The deal marks the first time that First Financial Caribbean Corp., San Juan, has borrowed from an offshore lending syndicate. The company originated more than $720 million in residential loans last year.

The chief component of the deal is a $100 million secured mortgage warehouse credit, to be used to finance residential mortgages and mortgage- backed securities. First Financial also obtained an $18 million, five-year secured term loan to finance its residential mortgage servicing assets, and a $7 million secured revolving loan for working capital purposes.

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