Lloyds Banking Group is selling a portfolio of commercial property loans worth £1 billion, Financial Times reports. The deal consists of loans made on offices, high street shops and factories. Pension funds, private equity groups and overseas investors are eying the portfolio. Lloyds has nearly £23.7 billion of troubled real estate loans, some of which date back to the bank’s badly timed takeover of HBOS, while others have been issued more recently. JPMorgan Cazenove is managing the transaction.
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