Société Générale has pushed the deadline for second-round bids on its €500m property loan portfolio sale back by three weeks.
Second-round submissions from bidders thought to include Lone Star, Blackstone and Deutsche Bank were scheduled to come in by the end of January, but are now due on 24 February.
The delay is thought to be due to some assets in the portfolio of predominantly French and German loans being bid on separately outside the process.
The sale of any loans from the portfolio would cause enough of a change in the pool to warrant the delay, and often occurs in portfolio sales of properties and loans, altering the size of the final package.
A handful of parties are in the running for the deal, which includes some Canadian loans and some US corporate loans, linked to property companies.
The pool contains sub-performing loans with LTV breaches, and many defaulted loans.
SocGen declined to comment.
