Jun
30
Blackstone Said to Offer Debt Forgiveness on Spanish Mortgages
ByBlackstone Group LP is seeking to restructure some of the 6.4 billion euros ($7.2 billion) of Spanish home loans it bought at a discount to help borrowers meet repayments, according to three people with knowledge of the matter.
The world’s largest private equity firm is offering to cut outstanding debt or allow homeowners to hand back the keys and walk away from loans, said two of the people, who asked not to be identified because the matter is private. Blackstone holds the mortgages of 40,000 homeowners in Spain after buying the debt for 3.6 billion euros from struggling savings bank CatalunyaCaixa…
Blackstone Said to Offer Debt Forgiveness on Spanish Mortgages
