01:10 PM EDT, 06/25/2024 (MT Newswires) -- (Updates with the companies' refusal to comment in the fourth paragraph.)

Banco Santander (SAN) sold about 300 million euros ($321 million) in hotel loans to Polus Capital Management in June, Bloomberg News reported Tuesday, citing people with knowledge of the matter.

These loans were previously refinanced or were unlikely to pay, the report added.

The Spanish lender is also looking to sell part of its commercial real estate assets portfolio including office buildings and hotels in a similar-sized deal, the report said.

Banco Santander and Polus Capital Management declined to comment to MT Newswires.

(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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