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(Bloomberg) -- Banco Santander SA is seeking to sell a portfolio of around €462 million ($498 million) in Spanish mortgages, according to people with knowledge of the matter.
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Spain’s biggest bank has hired Alantra Partners SA to advise on the deal, which includes performing and re-performing loans, said the people, who asked not to be identified discussing private information. Potential investors have recently received the first marketing information, with the marketing process set to last weeks, they said.
Representatives from Santander and Alantra declined to comment.
Santander has said it wants to offload around €40 billion in risk-weighted assets this year, via transactions including asset sales and significant risk transfers. The bank has long been a prolific seller of bank assets and credit risk in order to manage its balance sheet, with the effort now centralized under its Global Asset Desk.
The lender is also trying to sell two different portfolios with €300 million in assets linked to Spanish real estate, as well as about €1 billion of infrastructure loans, Bloomberg has previously reported.
Santander’s smaller rival Banco Sabadell SA is also looking to reduce risk, and is seeking to sell around €220 million of non-performing loans and mortgages, Bloomberg reported.
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