26 February 2020 – Brainsre.news
The best-placed investors to acquire these assets are CPPIB, the largest pension fund in Canada, and M&G, the British management company, according to El Confidencial. Santander expects to receive around €3.6 billion from the sale of these mortgages. The sale is being advised by the Spanish investment bank Alantra.
The operation has been structured around two portfolios. Firstly, Project Atlas, whereby the Spanish bank is selling €2.7 billion worth of delinquent mortgages. Secondly, Project Promoteo, which contains €2.1 billion worth of refinanced mortgages.
Original Story: Brainsre.news
Translation/Summary: Carmel Drake