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Sareb sells a loan portfolio with a par value of EUR 553,3 million
30/12/2016

It is the largest institutional transaction that the company has carried out to date.


​The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) has completed the sale of a loan portfolio named 'Eloise' with a par value of EUR 553,3 million. It is the largest institutional transaction that the company has carried out to date.

The transaction was completed via a competitive sales process, thereby enabling the value of the assets to be maximised to the full. The sale of this portfolio was also executed in compliance with the most exacting of standards in terms of transparency and competition.

The loans sold are secured by properties located in more than twenty Spanish provinces, primarily in the autonomous regions of Catalonia (42% of the assets), Galicia (19%), Andalusia (12%) and Madrid (11%). 95% of the assets are Non-Performing Loans (NPLs). 87% of these assets are linked to the residential sector, 10% to commercial use and 3% to plots of land.

"The success of this transaction shows Sareb's ability and aptitude to fulfil the disinvestment task it has been assigned. It also shows the dynamism and responsibility with which Sareb is performing", said Juan Ramón Dios, Sareb's portfolio manager director. "Sales of this volume allow Sareb to accomplish the goals set to dispose the portfolio received", has concluded. 

Sareb was advised on the transaction by the legal firm Ashurst and by Evercore, as financial advisor.

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