11/16/2018

Sareb completes the sale of a loan portfolio secured by land

Sareb completes the sale of a loan portfolio secured by land

The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) has completed the sale of a loan portfolio with a par value of €159 million to the fund Bain Capital Credit. The portfolio is primarily secured by land located across various regions of Spain.

Most of the land securing the debt in the ‘Bidasoa’ portfolio is located in the provinces of Barcelona (in the towns of Sant Quirze del Vallés and Viladecans), Cadiz (La Línea de la Concepción), Malaga (Manilva), and Madrid.

Alantra and Bird & Bird provided financial and legal advisory services to Sareb respectively.