The Company for Assets Arising from Bank's Restructuring (Sareb) concluded an early repayment of debt in the amount of €857.5 million, as reported to CNVM. Specifically, the company amortized 8,575 senior bonds 2016-4, 2015-4, 2017-2 and 2016-2, the first two equivalents with a nominal value of €605.3 million and the remaining ones to €252.2 million.
With this operation, and since its foundation in 2012, the entity has already canceled debt in the amount of €12,875 million, or 25.4% of the total.
The company chaired by Jaime Echegoyen was created to absorb real estate assets valued at €50,781 million from Banks such as Bankia, Catalunya Caixa or Banco de Valencia. However, Sareb has yet to pay €37,906 million, with a maximum period of 15 years from its entry into force to complete the process of selling all those assets.