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BBVA agrees to sell €2.1B SME loan portfolio to Cabot, CarVal

Banco Bilbao Vizcaya Argentaria SA agreed to sell a portfolio of written-off loans to Cabot and funds managed by CarVal Investors LP.

The portfolio consists of loans — which have a gross value of about €2.1 billion — to small and medium-sized enterprises, according to the Dec. 20 statement.

Earlier in the week, the Spanish lender agreed to sell another written-off portfolio worth roughly €2.5 billion, which consisted mostly of consumer loans, to Swedish debt management firm Intrum AB (publ).