12:26 PM EDT, 06/14/2024 (MT Newswires) -- Apollo Global Management ( APO ) has acquired a 610 million euros ($652.3 million) portfolio of unpaid mortgages from CaixaBank and is actively bidding on a similar portfolio held by Banco Santander (SAN), Bloomberg reported Friday, citing people with knowledge of the matter.

Banco Santander's portfolio reportedly includes approximately 270 million euros in nonperforming mortgages.

The bids are expected next week following a delay, enabling Apollo to participate after the CaixaBank auction, the people told Bloomberg.

Apollo, CaixaBank and Banco Santander did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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