Another non-performing loan deal may be brewing in Thailand, after DBS Thai Danu Bank auctioned off 77% of its bad debts to two investors.

The two investors were a fund owned by U.S. investment bank Lehman Brothers and a local finance company called National Finance, sources in Bangkok said. They paid an average price of 29 cents on the dollar, to purchase assets - a mix of retail, mortgage and corporate loans - with a face value of Bt31 billion ($754 million) for Bt8.4 billion.

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