Axos Announced On Dec. 7 It Closed Purchase Of Two Loan Portfolios From The FDIC At Purchase Price Equal To ~63% Of Par Value Resulting In ~Discount For Purchased Loans Of $463.7M
Portfolio Pulse from Benzinga Newsdesk
Axos Financial, Inc. has completed the acquisition of two loan portfolios from the FDIC at a purchase price of approximately 63% of their par value. This transaction resulted in a discount of about $463.7 million for the purchased loans, which have an aggregate unpaid principal balance of $1.25 billion, reflecting a 37% discount to par value.
December 08, 2023 | 2:38 pm
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POSITIVE IMPACT
Axos Financial, Inc. has successfully acquired two loan portfolios at a significant discount, which could positively impact its asset base and financial position.
The acquisition of the loan portfolios at a substantial discount is likely to be viewed positively by investors as it enhances Axos's asset base and could lead to better financial performance in the short term. The significant discount suggests a strategic purchase that may improve the company's profitability and return on investment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100