$30 Million C&I Portfolio

DebtX is pleased to announce the sale of a $30 million C&I portfolio. The portfolio will be offered in five pools:

  • DebtX_8991 is a performing relationship totaling $18 million. The company operates over two dozen community-based health centers in California. The loans are secured by commercial real estate, a blanket UCC filing, FF&E and a CD. The company had annualized top line revenues of approximately $125 million.
  • DebtX_8992 is a performing ABL relationship totaling $6.3 million. The company is in the petroleum distribution business with over $90 million in annual sales and annualized 2019 EBITDA totaling $716,000. The loans, which are personally guaranteed, are secured by CRE, A/R, FF&E and inventory.
  • DebtX_8973 consists of two performing loans totaling $2.2 million, a 4.83% WAC, and a 6/27 WAM. The debt is secured by a first lien blanket filing on FF&E of nine KFC franchises in South Carolina.
  • DebtX_8974 consists of two non-performing loans totaling $1.5 million. The borrower recently filed chapter 7 bankruptcy. This debt is secured by a first lien on business assets of the borrower and guarantor entities.
  • DebtX_8975 consists of a $1.9 million performing participation interest in a credit facility that is part of a broader syndication totaling $305 million. The balance sheet as of 12/31/19 shows assets totaling $425 million and liabilities totaling $356 million for a net worth of $69 million. The borrowers 2020 budget projects EBIDTA of $39 million.

Indicative bids on the two largest relationships are due before March 12th, at 2pm ET.  Final bids on the three smaller relationships are due before March 24th, at 2PM ET. The portfolio is to close by month end. For more information please contact Mike Roth at mroth@debtx.com or (617) 531-3424.

You must be registered with DebtX to receive detailed information about these loans and to participate in the sale. To register, please visit our registration page.

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