Royal Bank of Scotland (RBS) is planning to sell £1.6 billion of legacy loans, Financial Times reports. The Scottish lender has asked private equity groups, including Lone Star, Starwood Capital and Blackstone, to sign a non-disclosure agreement to start the process of bidding for the loans. The bid for the Edinburgh-based bank’s real estate loans is likely to be less than the face value of the loans. RBS, which has appointed Lazard to advise it on the sale process, was initially planning a sale of up to £3 billion of legacy loans.
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