The Bad Bank Pays 574 Millions in Debt Interests

Sareb, the bad bank of Spain, was obliged to pay 574 million Euros in the first six months of the year in the character of interest payment deriving from its debt. (…) Sareb issued debt of over 50.000 millions in order to adquire property shares and the loans linked to the sector from nationalized entities.

The company chaired by Belén Romana had to pay 36 millions more to the entities, an amount defined as management commissions and commercialization of its property. Taking into account the condominia payments, taxes and household costs, Sareb had non-interest expenditure of 140 millions in the first quarter.

During this time, the company noted down revenues of 842 million Euros.


Source: Expansión