PDIC sets public bidding of P96.4M worth of secured loan portfolio, invites bidders to prequalify
BUTUAN CITY -- The Philippine Deposit Insurance Corporation (PDIC) is inviting interested bidders to prequalify for the public bidding of PDIC loan portfolio consisting of 27 secured loan accounts scheduled on December 17, 2024.
The disposal of said loan portfolio is part of the ongoing efforts to maximize asset recovery and offers investors a chance to acquire valuable secured loan accounts. The loan portfolio is secured by real estate mortgages constituted on prime industrial lots located in Mamplasan, BiΓ±an, Laguna with a minimum disposal price of P96.4 million.
The prequalification process aims to ensure that only capable bidders with due diligence capabilities can proceed to the public bidding. The prequalification window is open from November 11 to 15, 2024 and requires the submission of key documents including a Letter of Intent, a copy of Philippine Statistics Authority (PSA)-issued birth certificate, the latest General Information Sheet submitted to the Securities and Exchange Commission (for partnerships and corporations), and contact details (name, address, telephone number, and email address) of the nominated principal representative for the bidding.
These documents must be submitted via email to the Loans Resolution Committee (LRC) Secretariat at lrcsec@pdic.gov.ph.
Prequalified bidders will be notified by PDIC through email and will be sent copies of the Pro-forma Data Sharing Agreement (DSA) and Confidentiality and Non-Disclosure Agreement (CNDA) on November 21, 2024. The notification will include instructions to submit the signed and notarized copies, along with original copies of the previously submitted documents, to the LRC Secretariat from November 25 to 27, 2024, at the 5th Floor of PDIC Chino Bldg. located at 2228 Chino Roces Avenue, Makati City, from 9:00 a.m. to 5:00 p.m. only.
The PDIC will notify all qualified bidders of their eligibility to conduct due diligence on the loan accounts and participate in the bidding process. The Corporation shall also send to all qualified bidders through email not later than 29 November 2024, the bidding package that will include the Conditions of Bid, a list of the loans and collaterals, a Bid Proposal Form, and Pro-forma Special Power of Attorney, and Secretary’s Certificate (for those submitting a bid on behalf of another individual or organization), and a Pro-forma Certification to confirm that the bidder is not related to the borrower or the borrower’s relatives within the second degree of consanguinity or affinity. Only qualified bidders can participate in the public bidding.
Qualified bidders must submit their sealed bids at the 5th Floor of PDIC Chino Bldg. at 2228 Chino Roces Avenue, Makati City on December 17, 2024, from 9:00 a.m. to 1:00 p.m.. Bids will be opened at 2:00 p.m., on the same day.
For more information on the scheduled public bidding, procedures and requirements, interested parties may email the LRC Secretariat at lrcsec@pdic.gov.ph. (PDIC/PIA-Caraga)
