Notice to the holders of €250,000,000 5.25% Senior Secured Notes due 2022 and €225,000,000 Floating Rate Senior Secured Notes due 2022 (the ¨Notes”)
(Fixed Rate Notes Regulation S: ISIN XS1716821779, Common Code 171682177; Rule 144A: ISIN XS1716821340, Common Code 171682134; and Floating Rate Notes Regulation S: ISIN XS1716822231, Common Code 171682223; Rule 144A: ISIN XS1716821936, Common Code 171682193 of Haya Finance 2017, S.A. (the “Issuer”)
In the context of the recent transaction announced by BBVA, whereby BBVA has reached an agreement with a subsidiary of Cerberus Capital Management, L.P. for the creation of a joint venture to which BBVA’s real estate business in Spain will be transferred, Haya Real Estate wishes to announce that it has agreed to sign a servicing agreement with BBVA to provide, on an exclusive basis, management and commercialization services for the real estate portfolio held by BBVA once the transaction is executed (expected to take place by the second half of 2018).
Such agreement involves BBVA’s future flow of real estate assets for a period of eight years, with a potential extension of two additional years. There is no servicing agreement between Haya Real Estate and the newly created joint venture for the assets to be owned by the Joint Venture. Several alternatives are being analyzed to leverage both the Joint Venture and Haya Real Estate’s capabilities in this regard. Any developments on a potential agreement will be communicated as they evolve in the upcoming months.
Haya Real Estate, S.L.U.
01 December 2017
Esta nota de prensa contiene información sobre proyecciones futuras en relación con la posición financiera y planes de operaciones futuras en relación con Haya Real Estate. Cualquier información distinta de aquella relacionada con datos históricos debe entenderse como proyecciones futuras. Estas proyecciones futuras deben considerarse válidas únicamente a fecha de hoy y están sujetas a numerosos factores que podrían causar desviaciones respecto a dichas proyecciones futuras. Haya Real Estate no será responsable y no tendrá ninguna obligación en relación con la actualización y/o revisión de dichas proyecciones futuras (excepto en la medida en que pudiera estar legalmente obligada a ello).
About Haya Real Estate
Haya is the leading company in the management of Non-Performing Loans and Real Estate Owned assets (NPLs and REOs, respectively) in Spain. The company manages assets as well as financial and real estate vehicles for a wide variety of clients, from financial institutions to international investors. In total, Haya is responsible for €31.8 billion of AuMs (Assets under Management).
Haya offers products and services covering the entire value chain of NPLs and REOs. Its NPL services focus on the management of corporate or individuals’ debt, with a high degree of specialization in the valuation, management and recovery of loans and the conversion of non-performing loans into real estate owned assets. Real estate services are delivered to a portfolio of ~189,000 assets under management, and they range from asset boarding, property management, maintenance and valuation to its commercialization. Haya's services are fully integrated into the lifecycle of each NPL / REO, and also involve portfolio advisory, underwriting capabilities, land management, completion of works in progress and securitization.
Haya’s main clients include financial institutions such as BBVA, Caixabank (former Bankia), Cajamar, Liberbank, Sareb and international investment funds such as Cerberus Capital Management. The company employs ~863 professionals, featuring an extensive sales network that covers the entire Spanish geography. Haya has invested ~€63 million euros in cutting-edge technology, data analysis and IT tools focused in process efficiency and performance delivery.
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