Thai Danu achieves landmark bad loan sale

DBS'' Thai unit pulls off the first bank auction in Thailand and gets rid of its bad debts.

Meera Tharmaratnam

July 28, 2000

DBS Thai Danu Bank (Danu) has sold 77% of its bad debts to two parties – a fund owned by Lehman Brothers and local finance company National Finance – at an average of 29 cents on the dollar. Danu raised Bt8.4 billion ($205 million) by selling loans in default with a combined face value of Bt31 billion, according to a company statement on Thursday.

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