Market Chatter: BBVA Looks to Sell $443.9 Million Worth of Bad Mortgages

MT Newswires Live01-12

BBVA (BBVA) is trying to sell 380 million euros ($443.9 million) worth of mortgages as part of an effort to clear its balance sheet, Bloomberg reported on Monday, citing a document.

The Spanish bank is in talks with investors over loans tied to about 3,900 properties, according to the document, which outlines a project called Terral.

BBVA is seeking non-binding bids for the loans by the end of January, the company said.

The company did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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