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                    [ArticleID] => 264553
                    [Title] => Export Bank eyes foreign partner for SPV venture
                    [Summary] => The Export and Industry Bank (EIB) has started talks with a foreign financial institution for the formation of a special purpose vehicle (SPV) to dispose of some P1.7-billion worth of non-performing assets (NPAs). 


"The bad debts garbage heap continues to stink," said outgoing EIB vice chairman Reynaldo G. David. "Thus we have decided to enter into a SPV transaction that is a bold venture into uncharted territory but the rational and right financial decision. It is the only way the bank can dispose of the NPAs that clogs the balance sheet."


                    [DatePublished] => 2004-09-13 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] => Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
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NEW YORK LIFE PHILIPPINES INC

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                    [ArticleID] => 264553
                    [Title] => Export Bank eyes foreign partner for SPV venture
                    [Summary] => The Export and Industry Bank (EIB) has started talks with a foreign financial institution for the formation of a special purpose vehicle (SPV) to dispose of some P1.7-billion worth of non-performing assets (NPAs). 


"The bad debts garbage heap continues to stink," said outgoing EIB vice chairman Reynaldo G. David. "Thus we have decided to enter into a SPV transaction that is a bold venture into uncharted territory but the rational and right financial decision. It is the only way the bank can dispose of the NPAs that clogs the balance sheet."


                    [DatePublished] => 2004-09-13 00:00:00
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Export Bank eyes foreign partner for SPV venture

By Ted P. Torres | September 13, 2004 - 12:00am

The Export and Industry Bank (EIB) has started talks with a foreign financial institution for the formation of a special purpose vehicle (SPV) to dispose of some P1.7-billion worth of non-performing assets (NPAs)....

Business