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Banco Santander & Blackstone Consider Refinancing Quasar

The real estate company created to take over Banco Popular's toxic assets has debt with Morgan Stanley and Deutsche Bank amounting to 7.3 billion euros.

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The shareholders of the real estate company Quasar are studying a possible restructuring of the firm’s loans. According to OK Diario, Banco Santander and Blackstone have started a process to refinance the real estate company created from the toxic assets of Banco Popular.

The intention of the financial institution and the North American investment fund is to extend the duration of a syndicated loan amounting to 7.3 billion euros that Quasar has with Morgan Stanley and Deutsche Bank. The initial term of these credits was five years and those agreements were signed four years ago.

Read the full article in Spanish.

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