There have been many large non-performing loan (NPL) sales in Spain, particularly in the past five years. The trigger was undoubtedly the setting up of the Spanish bad bank (Sareb) and the transfer of €51 billion ($61 billion) of impaired assets (loans with mortgage collateral and real estate properties). Since 2012, Sareb has been very active selling NPL portfolios to institutional investors through competitive sale processes and there is still a nine-year period left to sell them all (with more than €39 billion still remaining). More recently, Sareb has launched an online platform so investors can also bid for the NPLs on an individual basis.Borrowers are also becoming increasingly interested in acquiring debt at a discount through funds from alternative providers.
December 11 2017