KKR puts €700 million of Novobanco NPLs up for sale

The international investment firm KKR is to resell a €700 million tranche from a portfolio of Non-Performing Loans (NPLs) known as ‘Project Nata’ that it purchased in 2018 from Novobanco for €1.750Bn.

The consortium Balbec-LX Partners, the UK fund LCM Partners, and Arrow Global are the only bidders prepared to provide binding offers for the loans. The offers must be made by October 2.

The tranche put up for sale corresponds to secured credits which means that the assets in Project Nata were mostly real estate.