Apollo Global Management (APO), KKR (KKR), and Balbec Capital Management were selected by Spain's CaixaBank to bid for a portfolio of non-performing mortgages worth approximately 600 million euros ($649.2 million), Bloomberg reported Monday, citing sources familiar with the matter.

The bidders will move to the next round after submitting non-binding offers, the sources told Bloomberg.

Binding offers are anticipated in the latter half of April, Bloomberg said, citing a marketing document.

Apollo, KKR, Balbec, and CaixaBank did not immediately reply to a request for comment from 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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