DebtX will sell more than $358 million of participations, loans and leases from the Tennessee Commerce Bank receivership on behalf of the Federal Deposit Insurance Corp.
The portfolio includes $46.5 million of performing non-lead loan participations and $311.2 million of performing and non-performing loans and leases. Collateral is located throughout the United States and includes commercial real estate, aircraft, rolling stock, construction equipment, medical equipment, boats and business assets.
Investors may bid on individual loan participations or on pre-determined loan and lease pools. Sealed bids will be accepted at www.debtx.com from 11 a.m. to 1 p.m. Eastern on July 17. Due diligence materials are now available to qualified investors, according to DebtX officials.
“We anticipate strong demand for these assets, as well as the $130 million in participations and loans bidding June 26th,” says DebtX CEO Kingsley Greenland. “Investors are excited to have an opportunity to bid on $440 million in FDIC assets.”
