Sankaty buys €560 million loan book from Bankia

Monday, May 11, 2015

Sankaty Advisors has purchased a €560 million Spanish loan portfolio from Bankia in the latest example of the credit firm expanding its global loan platform.

Comment by: Anonymous. Posted 8 years ago [2015-05-13 00:35:40]

Thanks for asking, Sayed! Since neither price nor funding source (possibly Bankia itself) are disclosed, the questions are all the more interesting. I will float the speculation that Bankia funded all or part of the Sankaty purchase and that it may even be non-recourse (i.e., Bankia can be repaid on the loan only by performance of the loan collateral rather than also having recourse to Sankaty).

Comment by: Sayed Kadiri. Posted 8 years ago [2015-05-12 14:27:12]

In response to the questions below, officials at Sankaty say that a transaction price has not been disclosed. They decline to comment about any potential funding arrangements.

Comment by: Anonymous. Posted 8 years ago [2015-05-12 01:47:53]

I wonder if the transaction price - rather than just the portfolio par amount - is publicly disclosed. That would be useful information which Bankia shareholders also deserve to know. Also, did Bankia fund Sankaty's purchase?

CLOs

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