Montepio Geral prepping new NPL securitization
Caixa Económica Montepio Geral is to bring Ares Lusitani, the second issuance of Portuguese non-performing loans (NPLs), with JP Morgan arranging the €70m deal backed by residential and commercial properties located in Portugal.
The trade will have three offered tranches all paying a floating rate over six month Euribor. The class ‘A’ senior notes have been given the preliminary rating of Baa3 by Moody’s and BBB (low) by DBRS.The seller is listed as Mimulus Finance, a special purpose vehicle ...
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