BOSTON, Aug. 17, 2017 /PRNewswire/ -- DebtX, the largest marketplace for loans, today announced the sale of $1.1 billion in First NBC loans on behalf of the Federal Deposit Insurance Corporation (FDIC) will take place on two separate dates.
On September 12, DebtX will offer a $117 million, single-relationship pool secured by energy-related assets in Louisiana. The closing date for this pool is Sept. 29.
On September 26, DebtX will take bids on 17 pools of loans totaling $1.04 billion. The portfolio consists of performing and non-performing loans and is comprised primarily of Commercial & Industrial (C&I), real estate backed C&I, single family residential, and government guaranteed loans. The loan pools range in size from individual participations to a large-balance pool with 12 relationships totaling $428 million in unpaid principal balance (UPB). The closing date is Oct. 18.
Investors interested in bidding must be registered and approved with DebtX for FDIC sales. To apply, go to DebtX's registration page and select the FDIC Market Application option.
"The assets in this sale will appeal to investors of all sizes," said DebtX CEO Kingsley Greenland. "We have already had significant interest in these loans from a wide range of investors and expect active bidding on both dates."
DebtX, which has a long-standing relationship with the FDIC, has executed 77 sales for the agency. Not including the First NBC transaction, DebtX has sold more than $5.4 billion in UPB for the FDIC since 2007.
For more information about the First NBC Bank portfolio, contact Ken Daley, 617.531.3428 or Mike Capozzi, 617.531.3454, or email FDIC-FNB17@debtx.com.
DebtX operates the world's most liquid marketplace for loans. Through its loan sale advisory, DebtX maximizes loan sale proceeds for financial institutions and government agencies. DebtX also provides loan valuation, analytics and market data for regulatory and audit purposes. For syndication, agency, and loan sale professionals, DebtX provides a suite of web-based deal management solutions. For loan originators and risk managers, DXScore® is the firm's credit rating system for commercial real estate loans. DebtX is based in Boston, with offices across the U.S., South America, Europe and Asia. Call 617.531.3400 or visit www.debtx.com. Follow DebtX on Facebook, Twitter and LinkedIn.
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