Alantra advises Banco Santander on the sale of a €90mn unsecured re-performing loan portfolio

Oct 2024

Sell-side advisory

Value €90mn

Madrid – Alantra, a leading global investment bank and asset management firm, has advised Banco Santander S.A., the second-largest Spanish bank by volume of assets, on the sale of an unsecured re-performing loan portfolio granted to individuals and SMEs with a total balance of c. €90mn to an American investment fund.

The portfolio is composed of a mix of individuals and SMEs (with similar weights) that have undergone restructurings during the past months. The sale structure used was a unique and innovative solution where the seller retains servicing of the performing loans, along with other mechanisms to avoid any reputational risk with the clients, and where an additional forward flow agreement is executed for the sale of the loans that may default in the future.

Joel Grau, Managing Partner and CEO of Alantra FIG, said: “This transaction is a key milestone for the Unsecured RPL market that adds to our momentum, and consolidates our relationship with Banco Santander.”

The transaction represents a unique process in the Spanish Unsecured Re-Performing space and a key milestone for the seller and for Alantra, who consolidates its position in a wide variety of portfolio asset classes and as Banco Santander’s trusted advisor, having executed Project Turf this year and Project Frankel, Project Modelo or Project Titan in previous exercises.