Spain

A subsidiary of Spanish highway operator Abertis is considering borrowing $424 million to fund capital projects for four Puerto Rico toll roads, Bloomberg News reported. The Public Finance Authority, a Wisconsin-based issuer, approved the bond sale for Puerto Rico Toll Roads LLC, at a June 26th board meeting. PFA would loan the proceeds it borrows to Puerto Rico Toll Roads, which is part of Metropistas, an Abertis subsidiary that operates numerous toll roads and one bridge in Puerto Rico.
Read more
CaixaBank SA is exploring the sale of €1.1 billion ($1.2 billion) in non-performing loans as it seeks to improve its asset quality, Bloomberg News reported. The Spanish lender is marketing two NPL portfolios that have already attracted potential bidders, according to documents seen by Bloomberg and people familiar with the matter. One is code named Oxygen and it has an outstanding balance of €610 million on about 7,000 unpaid mortgages.
Read more