EuroBic sells €1.2 bn portfolio of residential mortgages
The bank led by José Azevedo Pereira successfully concluded the first residential mortgage securitisation transaction for 1.2 billion euros.
EuroBic sold a portfolio of residential mortgages for 1.2 billion euros in what was its first Residential Mortgage-Backed Securitisation (RMBS) transaction.
According to a statement by StormHarbour, which organized the operation, the bank led by José Azevedo Pereira successfully concluded the securitisation transaction which had as collateral 1.241 billion euros relating to a portfolio of about 14 thousand mortgage loan contracts in Portugal.
“We are very pleased to have helped EuroBic in this important and remarkable transaction for them,” said Marcos Chazan, Structuring and Advisory Director, StormHarbour Portugal.
“The transaction highlights StormHarbour’s ability to assist its clients in premiering transactions and completing transactions in exceptional circumstances. It was a pleasure to work with the EuroBic team, as well as with the other partners in setting up this transaction in a short period of time,” added Paulo Gray, director of StormHarbour Portugal, in the statement.
