Hoist Finance AB acquired a well-diversified portfolio of non-performing banking claims originated by four regional Spanish banks. The portfolio is made up of approximately 115,000 loans, of which 86,000 are consumer unsecured loans and 29,000 are loans to small and medium-sized enterprises (“SME loans”).

The total investment amounts to just over EUR 22 million. The Estimated Remaining Collections ("ERC") amounts to approximately EUR 48 million over 120 months.

Najib Nathoo, Regional Director West Europe, Hoist Finance says, “We are pleased to establish a presence in Spain, which is an important European market. This acquisition further underlines our vision in becoming the leading debt restructuring partner in Europe. We have invested in a broad portfolio of assets with our robust diligence and investment standards, working with local partners and experts who have solid experience and track records in Spain. We are excited to be working with these partners to fully support the banking industry by delivering the high calibre services specific to Hoist Finance.”