AssetBay advises Banco Santander on the sale of a €330 million NPL portfolio

AssetBay has advised Banco Santander on the sale of a €330 million NPL portfolio to an investment fund.

The portfolio, named “Project Swing”, consists of unsecured non-performing loans granted to individuals and SMEs. Additionally, it included a segment of junior lien secured loans.

“This transaction represents one of the largest unsecured debt portfolios transacted in Spain in 2024. We are deeply grateful for the trust Banco Santander has placed in AssetBay for this critical operation, which is a key part of its strategy to reduce its non-core assets. This reinforces our position as one of the leading advisors in the Spanish market,” said Sergio Núñez Valpuesta, CEO of AssetBay.

The AssetBay team involved in the transaction included Sergio Núñez (CEO), Prashant Chainani (Managing Director), Pedro González-Torre (Director), Miguel Aguerri (Vice President), and Carla Sanchís (Associate).