|
Eurobank
San Juan, PR
Closing Date: April 30, 2010
|
|
Winning Bidder:
Oriental Bank & Trust, San Juan, Puerto Rico
|
|
Winning Bid:
All deposits, whole bank with loss share – Asset Discount of 13.80%;
Deposit Premium of 1.25%; First Loss Tranche 0%; Financing Note; Equity
Appreciation Instrument.
|
|
|
Cover (second place)
Bidder:
Oriental Bank & Trust, San Juan, Puerto Rico
|
|
Cover Bid: All deposits, modified whole bank with loss share – Asset Discount of
13.00%; Deposit Premium 1.25%; First Loss Tranche 0%. |
|
|
Other Bidder Names:
Omitted from this disclosure
|
|
|
Other Bids:
All deposits, whole bank with loss share – Asset Discount of 18.50%;
Deposit Premium of 1.0%, First Loss Tranche 0%; Financing Note; Equity
Appreciation Instrument – four bids with various links to other
institution bids.
|
|
|
Notes:
- The winning bidder’s acquisition of all the deposits was the least
costly resolution compared to a liquidation alternative and the other
bids. The liquidation alternative was valued using valuation models to
estimate the market value of the assets. The bids for loss share were
valued using a discounted cash flow analysis for the loss share portfolio
over the life of the loss share agreement.
- There are more bids than bidders because one or more bidders submitted more than one bid.
- For more information on the bid disclosure policy, seehttp://www.fdic.gov/about/freedom/biddocs.html.
|
