Sagres €162.8 million tender offer

Overview:

• Banco BPI invited holders of the outstanding Douro Mortgages securitisation notes of Sagres – Sociedade de Titularização de Créditos, to tender their notes for cash. 
• The offers was made as part of BPI's balance sheet and capital structure management process, providing needed liquidity. 
• Of the €302 million that had been tendered, the bank accepted to purchase  €162.8 million in amortised notes. 
• Banco BPI, Citigroup Global Markets and Deutsche Bank acted as dealer managers. 

John Crabb - Journalist