El Credito de macondo esta tan jodido bajo Agapito que hasta la deuda vieja se vende en quemazon...

Este toston viene de "American Banker":



FirstBancorp in Puerto Rico Selling Commercial Loans at $65M Loss



by Chris Cumming
APR 1, 2013 1:07pm ET
First BanCorp (FBP) in San Juan, Puerto Rico, is raising $201 million through three separate sales of commercial loans.


First BanCorp will sell the loans for about 38% of the $532 million in unpaid principal balances, it said Monday. The sales will reduce the $13.8 billion-asset company's nonperforming assets by about 23% and will result in a pretax net loss of $65 million.

Lone Star Funds in Dallas paid $120 million in cash on Thursday for a portfolio of loans with an unpaid principal balance of $378 million. First BanCorp has agreed to two other agreements with unnamed investors to sell commercial and construction loans with smaller unpaid balances. The company expects to complete those sales by the end of June.

"Through aggressive remediation, these transactions are a positive step as we work toward achieving our goal of substantially reducing problem assets," Aurelio Alemán, First BanCorp's president and chief executive, said in a press release. "While there is an impact to earnings, these transactions greatly improve our credit risk profile,"

First Bancorp is operating under a June 2010 order with the Federal Reserve Board that requires it to improve its asset quality.