Beka Finance, a company specializing in investment banking, has executed the sale of a portfolio of corporate loans secured by real estate assets belonging to Bankia, in a transaction called Project Marshmello. The transaction, with a nominal value close to €40 million, was carried out through the online illiquid debt platform Debitos, which it exclusively markets in Spain and Portugal.
Project Marshmello groups 172 corporate loans secured by real estate, distributed across the regions of Murcia, Catalonia, and Madrid.
To find investors, Beka Finance contacted 78 potential European institutional investors from Debitos’ database, segmented according to deal size and interest in non-performing loans (NPL) and Spanish portfolios.
Although Spanish investors accounted for 40% of the interest, significant participation was also noted from other European countries such as the United Kingdom (30%), Germany (10%), Austria (10%), and Sweden (10%).
Bankia sought to innovate in the digital sale of toxic assets by using the Debitos platform, expanding its base of European institutional investors and reducing costs in executing the transaction.
Since its founding in 2012, Debitos has collaborated with over 1,200 marketing entities and counts on a portfolio of more than 500 qualified institutional investors.
Carlos López Jall, Corporate Finance Director at Beka Finance, highlighted that Spain remains one of the European countries with the highest volume of non-performing loans and that the use of digital platforms like Debitos facilitates the sale of unique assets and smaller transactions, broadening the investor base.
