02:32 PM EDT, 07/05/2024 (MT Newswires) -- Banc of California ( BANC ) is selling $2 billion of business-purpose mortgage loans it acquired last year as part of the acquisition of PacWest Bancorp, Bloomberg reported Friday, citing people with knowledge of the matter.

Morgan Stanley is leading the process and bids for the loans were due a week ago, the report said.

Banc of California ( BANC ) and Morgan Stanley declined to comment, Bloomberg said.

The companies did not immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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