May 2018, London – GLAS was recently appointed as Note Trustee, Security Agent and Registrar on a Spanish real estate NPL securitisation transaction. The Issuer, a Luxembourg SPV, issued a total of EUR 125 million notes across two of its “compartments”, comprising of different classes and seniority (the “Notes”). The Notes are private placement issuances and are a refinancing of a pre-existing deal. The Notes are not listed on any stock exchange and are unrated. GLAS as Security Agent holds English, Spanish and Luxembourg security on behalf of the secured creditors.

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