BBVA Is Seeking to Sell About €380 Million in Soured Mortgages

BBVA SA is seeking to sell about €380 million ($444 million) in soured mortgages as it cleans up its balance sheet.

The lender is already holding talks with investors over the portfolio, which includes loans tied to about 3,900 properties in Spain, according to a sale document seen by Bloomberg News. KPMG is the sale adviser on the deal, known as Project Terral.