Blackstone and the Fund for Orderly Bank Restructuring (“FROB”) have subscribed to the bonds issued by FTA2015, an asset-backed securitization fund

Catalunya Banc has sold a €6.5-billion loan portfolio to American investment group Blackstone and FROB via the asset-backed securitization fund FTA2015. According to a communication by the bank to the National Markets and Competition Commission (“CNMV”), the transaction was closed at €4.123 billion, with Blackstone paying out €3.598 billion and FROB €524 billion.

Catalunya Banc’s loans have been transferred to an asset-backed securitization fund (“FTA”) managed by GestiCaixa, Company Managing Securitization Funds. Blackstone has subscribed to the senior bonds issued through the FTA2015, and FROB has subscribed to the subordinated bonds issued through the FTA2015 FROB.

Cuatrecasas, Goncalves Pereira has advised GestiCaixa on this transaction. A multidisciplinary legal team made up of lawyers from our Corporate Finance; Financial Taxation; Intellectual and Industrial Property, Media and Data Protection; Regulatory Law; and Litigation Practices.