Sabadell in advanced talks on €500m NPL portfolio - report

Spanish lender Sabadell is reportedly finalising the sale of a €500 mln non-performing loan package to US private equity firm Lone Star.

According to Spanish press reports, the Proyecto Higgs portfolio was initially put on the market by the lender before the summer but failed to attract strong interest from investors. Lone Star is now believed to be in advanced negotiations on the portfolio which could potentially become the largest NPL trade since the Covid-19 outbreak.

It is the third bad debt portfolio marketed by Sabadell this year. The lender also sold the €1 bn Project Explorer secured NPL package to Tilden for a price of €60 mln and Project Aurora to KKR for an undisclosed amount.


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