On behalf of the FDIC, ""DebtX"":https://www.debtx.com/default.asp is going to sell more than $358 million of participations, loans, and leases from the Tennessee Commerce Bank receivership, the company announced Wednesday.[IMAGE] [COLUMN_BREAK]
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 commercial real estate, aircraft, rolling stock, construction equipment, medical equipment, boats and business assets.
Interested investors can bid on individual loan participations or on pre-determined loan and lease pools. Sealed bids will be accepted at DebtX's website from 11 a.m. to 1 p.m. Eastern on July 17. Due diligence materials are currently available to qualified investors at the website, as well.
""We anticipate strong demand for these assets, as well as the $130 million in participations and loans bidding June 26,"" said DebtX CEO Kingsley Greenland. ""Investors are excited to have an opportunity to bid on $440 million in FDIC assets.""
DebtX is a full-service loan sale advisor for commercial, consumer, and specialty finance debt and operates an online marketplace for loan sales.