BOSTON, May 25, 2017 /PRNewswire/ -- DebtX, the largest marketplace for loans, today announced a $1 billion loan sale on behalf of the Federal Deposit Insurance Corporation (FDIC) as receiver for First NBC Bank of New Orleans.
The transaction is one of the largest cash loan sales executed by the FDIC in the past 10 years. The portfolio consists primarily of Commercial & Industrial (C&I) loans, both performing and non-performing. The FDIC took receivership of the loans after First NBC Bank failed in April 2017.
The sale is expected to take place in the third quarter of 2017. Interested investors must be registered and approved with DebtX for FDIC sales to participate in the sale. To apply, visit DebtX's registration page and select the FDIC Market Application option.
"DebtX is pleased to have been selected by the FDIC to manage one of its biggest cash loan sales of the past decade," said DebtX CEO Kingsley Greenland. "Given the size of the portfolio and current investor demand for loans at DebtX, we expect strong interest and active bidding for this portfolio."
DebtX has a long-standing relationship with the FDIC. DebtX has executed 77 transactions for the FDIC exceeding $5.4 billion in Unpaid Principal Balance (UPB) sold since 2007, not including the First NBC loan sale.
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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