Blackstone Said to Offer Debt Forgiveness on Spain Mortgages

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Spanish lenders have taken tens of thousands of residencies onto their balance sheets since the start of property crash that sparked the worst recession in the country’s democratic history and sent unemployment spiraling to a record.

Photographer: Angel Navarrete/Bloomberg

Blackstone Group LP is seeking to restructure some of the 6.4 billion euros ($7.2 billion) of Spanish home loans it bought at a discount to help borrowers meet repayments, according to three people with knowledge of the matter.

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