Bain scoops up Iberian NPL portfolios

The distressed investor has entered the Portuguese NPL market and continues to make inroads in the Spanish market with its ninth acquisition in the country since 2014.

Bain Capital Credit has taken its first step into the Portuguese market with the acquisition of real estate loans that have a total outstanding balance of €476 million from a local bank, as well as loans from a Spanish bank at a par value of €489 million.

The Portuguese portfolio consist of both non-performing and sub-performing real estate loans originated by Caiza Geral de Depositos.