Banco Montepio and Nomura are already preparing the sale of a non-performing loan (NPL) and real estate portfolio. The portfolio is worth a combined 1.4 billion euros, although only €500 million is expected to leave the bank initially, the Portuguese daily newspaper Jornal Económico reported. According to the article, the market’s major players were not invited to participate. The operation is led by Japanese investment bank Nomura via its London branch. Nomura will be presenting the assets to a restricted group of investors.
After a period of quiet due to the pandemic, the market in Portugal for non-performing loan portfolios accelerated in 2021. Market forecasts predict the same for this year. Sales are expected to be brisk.
The big buyers of defaulted asset portfolios, such as Davidson Kempner Capital Management, Bain Capital and Arrow Global, have not been invited to participate, idealista/news reported.