Sareb sells a debt portfolio without mortgage guarantee to Axactor

The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) has completed the sale of a loan portfolio without mortgage guarantee to Axactor. The sale comprises financial assets with a par value of €2,335 million.

The transaction – code-named Navia – was completed via a competitive process that allowed Sareb to divest its portfolio of smaller loans that had been left without mortgage guarantee following their foreclosure.

The company was advised on this transaction by KPMG on the financial side, and Herbert Smith Freehills on the legal side.