Bain Capital Hires JP Morgan and Deloitte to Securitise NPLs
18 December 2019 – Bain Capital has hired JP Morgan and Deloitte to sell off all of the non-performing loans it acquired in Spain during the crisis. The portfolio has a nominal value of approximately €4 billion, though it is likely to sell at a significant discount.
The firm is looking to securitise the portfolio of NPLs. The credits would remain in the same companies, but any new investors would assume the risks and the potential profits.
Market analysts believe that Bain’s decision is linked to two major factors. First, the entrance of Unidas Podemos into the governing coalition, together with the Socialists, an second the expected coming change in the economic cycle. Both have been roiling the market in the last few weeks.
Original Story: El Confidencial – Jorge Zuloaga
Adaptation/Translation: Richard D. K. Turner