Santander Negotiates the Sale of 50,000 Problem Mortgages to International Investment Funds

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

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