DebtX to Sell $550 Million in Loans

Financial Institutions, FDIC Accelerate Sales

BOSTON--()--DebtX, the largest marketplace for loans, today announced it is selling $550 million in performing and non-performing loans for the FDIC and seven financial institutions over the next six weeks.

“Financial institutions are accelerating the process of strengthening their balance sheets through active management of their loan portfolios,” said DebtX CEO Kingsley Greenland. “Sellers recognize that the healthier they are, the more opportunities there will be to exercise strategic options and grow revenue through new lending.”

DebtX is executing the following transactions. Due diligence materials are currently available at www.debtx.com.

  • $111.9 million offering for a bank in the South. The loans are performing and non-performing and are collateralized primarily by commercial real estate (CRE) properties and land in the South and Midwest. Bids will be accepted on Tuesday, Sept. 20 by 2 p.m. Eastern.
  • $74.6 million offering for a top-tier U.S. bank. The loans are primarily non-performing and are collateralized by retail properties and land in Arizona, New Mexico and Colorado. Bids will be accepted on Tuesday, Sept. 20 by 2 p.m. Eastern.
  • $32 million offering for a regional bank in the Midwest. The loans are seasoned performing and non-performing and are collateralized by retail, lodging, multifamily, office, mixed-use and assisted-living properties. The collateral is located in Ohio, West Virginia and Pennsylvania. Bids will be accepted on Tuesday, Sept. 20 by 2 p.m. Eastern.
  • $79.1 million offering for a specialty finance firm. The pools consist of a wide range of judgments and charge-offs. Bids will be accepted on Wednesday, Sept. 21 by 2 p.m. Eastern.
  • $22.4 million offering for a specialty finance company. The loans are seasoned performing and are collateralized by office, retail, mixed-use and self-storage properties in eight large states. Bids will be accepted on Thursday, Sept. 22 by 2 p.m. Eastern.
  • $17 million offering for a bank in the Northeast. The loans are non-performing and are collateralized by CRE and residential properties in New York. Bids will be accepted on Thursday, Sept. 29 by 2 p.m. Eastern.
  • $102.2 million offering for a bank in the Northeast. The loans are seasoned performing and non-performing and are collateralized by multi-family, office, industrial and retail properties primarily in the Midwest. Bids will be accepted on Tuesday, Oct. 4 by 2 p.m. Eastern.
  • $45 million offering for a bank in the Pacific Northwest. The loans are non-performing and are collateralized by retail, office, self-storage properties and land. Bids will be accepted on Thursday, Oct. 13 by 2 p.m. Eastern.
  • $28.7 million offering for the FDIC. The loans are performing and non-performing and are collateralized by real estate, business assets, stock, vehicles and boats. Bids will be accepted on Tuesday, Oct. 18 by 1 p.m. Eastern.
  • $38 million offering for the FDIC. The loans are primarily unsecured and are performing and nonperforming. Bids will be accepted on Thursday, Oct. 18 by 1 p.m. Eastern.

For more information about these sales, contact Will Mercer at 617.531.3429, wmercer@debtx.com, Brooke Foley at 617.531.3416, bfoley@debtx.com or Kevin Twomey at 617.531.3425, ktwomey@debtx.com.

About DebtX

DebtX is the world's premier, full-service loan sale advisor for commercial, consumer and specialty finance debt. DebtX operates the largest online marketplace for loan sales, serving commercial banks, investment banks, insurance companies, and government-sponsored enterprises. DebtX’s innovative deal management platform and loan sale process maximize proceeds and have been assessed and approved by many of the world’s most sophisticated financial institutions for functionality, security and privacy. DebtX provides valuation and analytics services, including objective mark-to-market loan valuations using unique pricing models that incorporate data from hundreds of thousands of loans. DebtX provides web-based deal management platforms for syndication, agency, and loan sale professionals. DebtX is based in Boston, with U.S. offices in San Francisco, Atlanta, McLean (VA), and New York and European offices in the United Kingdom, Spain and Germany. For information, call +1.617.531.3400 or visit www.debtx.com.

Contacts

Blue Marlin Partners
Greg Berardi, +1-415-239-7826
greg@bluemarlinpartners.com

Release Summary

DebtX, the largest marketplace for loans, today announced it is selling $550 million in performing and non-performing loans for the FDIC and seven financial institutions over the next six weeks.

Contacts

Blue Marlin Partners
Greg Berardi, +1-415-239-7826
greg@bluemarlinpartners.com