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CaixaBank counting on guarantees to recover €51M Thomas Cook loan

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CaixaBank counting on guarantees to recover €51M Thomas Cook loan

CaixaBank SA is counting on guarantees to recover a €51 million loan granted to failed U.K. tour operator Thomas Cook Group PLC, Europa Press reported Sept. 24.

Citing sources, the news agency said the credits were for hotels and were "very good quality." The loan will not increase the bank's nonperforming loan book because it is backed by "top-quality assets" and would not be difficult to recover, the report said.

Thomas Cook was forced into liquidation after failing to secure funding.