Loan sale advisor DebtX is slated to hold a $57 million commercial loan sale on Nov. 16 for a regional bank located in the Midwest US, according to Kingsley Greenland, president, founder and CEO. The loan portfolio consists of 40 relationships, which refers to loans that are different, but with the same issuer. Commercial real estate loans comprise 60% of the portfolio, while the portfolio also contains commercial and industrial (C&I), hospitality, agricultural and residential development-related loans as well, Greenland said. All of the collateral is based in the Midwest US, he noted.
The average paid through date for the portfolio is May 15, 2004, while the weighted-average coupon is 6.56% and the weighted-average maturity is December 31, 2007, Greenland said.