Blackstone wins €6.4bn Spanish mortgage pool

Blackstone has won the hotly contested bidding for Catalunya Banc’s €6.4bn Project Hercules portfolio of bad Spanish residential loans. The US opportunity fund is paying €3.5bn for the portfolio, which Catalunya Banc said had already been written down by €2.2bn to €4.2bn. To get to €4.2bn, FROB – the agency set up to restructure Spain’s troubled banks – will […]

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