LONDON, December 29, 2016 – Bain Capital Credit, LP announced today that it has acquired a loan portfolio from a leading Spanish financial institution. This is Bain Capital's fourth portfolio acquisition in Spain and seventh investment in the country since 2013.
The portfolio has a €364 million par value and comprises defaulted first lien bilateral Spanish loans to hotel operators, real estate developers, retail centres and residential real estate assets.
“We are excited about the opportunity to continue to grow our position in the Spanish non-performing loan and real estate market with these investments,” said Alon Avner, a Managing Director and Head of Bain Capital Credit’s European business. “We continue to find Spain as one of the most attractive markets in Europe. Our breath of expertise and capability to execute transactions in a tight timeline is a reflection of our skill set and capabilities,” said Fabio Longo, a Managing Director and Head of Bain Capital Credit’s European non-performing loan & real estate business. “We see the potential for further investment in Southern Europe, particularly in the real estate and non-performing loan markets.”
Support in executing these deals was provided by Copernicus as financial advisor; Aura REE, CBRE, Horwath, and Cushman & Wakefield, as real estate valuation providers; and Allen & Overy provided legal counsel.
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com), founded as Sankaty Advisors in 1998, invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.