Blackstone wins €6.4bn Spanish mortgage pool

Blackstone has won the hotly contested bidding for Catalunya Banc’s  €6.4bn Project Hercules portfolio of bad Spanish residential loans. The US opportunity fund is paying €3.5bn for the portfolio, which Catalunya Banc said had already been written down by €2.2bn to €4.2bn.  To get to €4.2bn,  FROB  – the agency set up to restructure Spain’s troubled banks – will […]