The Hindu Business Line : ARCIL sells NPAs

Asset Reconstruction Company (India) Limited (Arcil) has sold Security Receipts (SRs) consisting of nonperforming loans portfolio of Rs 3,925 crore to Deutsche Bank. This is the largest significant secondary market sale transaction of SRs in India, according to ARCIL. A press release from ARCIL said the deal had attracted bids from both domestic and international distressed debt investors.

An Arcil official said that this sale transaction had provided an exit route for existing holders of SRs, often the banks and institutions who had sold their bad loans to ARCIL. It was not clear how much Deutsche Bank had paid for taking over this loan portfolio. The portfolio comprises loan assets spread over various industries including textiles, cement, steel and electronics, he said. - Our Bureau

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