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DebtX to launch loan sale marketplace in Europe

08 April 2004  |  1252 views  |  0 DebtX to launch loan sale marketplace in Europe

DebtX, a US-based loan sale advisor for commercial bank debt, is extending its online marketplace in Europe, with an initial launch in Germany.

DebtX says it will offer loan sale advisory services in Europe to create a liquid secondary market for commercial bank debt.

The company says it will initially focus on Germany, where banking reform has prompted a major balance sheet restructuring of the country's banks. DebtX will have offices in both Munich and Frankfurt and has partnered with the investment bank, Günther & Partners.

Gifford West, MD and head of DebtX's European operations, comments: "DebtX's loan platform is designed to offer global investors a convenient and cost-effective way to participate in the emerging opportunity in Germany."

DebtX has 2500 registered buyers on its Web site where investors can conduct due diligence and bid online.

The firm claims to have sold more than $2.3 billion in debt over the platform. In 2003, DebtX says it executed transactions for more than 50 commercial banks, investment banks, insurance companies and pension funds.

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