Bayside Capital buys Bantierra loan portfolio
Bayside Capital, the credit arm of HIG Capital, has acquired a portfolio of failed loans from Bantierra, marking the first such transaction in the credit union sector in Spain.
The portfolio of 10,735 loans is valued at approximately €150m and is composed of consumer loans to individuals and SMEs.
The portfolio attracted several national and international investors, though HIG was selected due to its existing commitment to Europe and Spain, the bank said in a statement.
The transaction has been in the pipeline for some months, led by Bantierra CEO Javier Hermosilla. The deal will have a positive effect on Bantierra's balance sheet.
Bantierra received financial advice from Analistas Financieros Internacionales and MaC Group. Legal advice was provided by De Castro Morenilla. Pérez-Llorca provided HIG with legal advice, while due diligence and financial advisory services were provided by Corbralia.
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