Caixa Economica Montepio Geral, the bank holding company, has mandated JP Morgan to arrange its third public NPL securitization, with the Portuguese lender closing in on getting its non-performing exposures (NPE) below the 10% mark.

Gaia Finance ABS has a gross book value of €234.3 million and an unpaid principal balance of €206.6 million. The pool consists of defaulted secured and unsecured loans, with under half of the defaulted pool comprising secured loans backed by residential, commercial and industrial properties in Portugal.

Original Story: Global Capital |Tom Brown
Photo: Site CEMG
Edition: Prime Yield