CarVal to securitize last of Catalunya Banc mortgages

By Tom Brown
10 Nov 2020

CarVal Investors is bringing its second Spanish RMBS securitization backed by re-performing loans originated by Catalunya Banc, mandating Natwest as arranger and Barclays and Standard Chartered as joint leads to syndicate the remainder of a portfolio it acquired from Blackstone.

Miravet 2020–1 is a €627.7m deal, backed by 67% of assets previous securitized in Blackstone’s SRF 2016–1, 2017–1 and 2017–2 transactions, with the remaining 33% made up of a portfolio of unsecuritized loans.

Catalunya Banc sold its restructured mortgage portfolio to Blackstone in 2014. Blackstone securitized the majority ...

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