Lloyds Banking Group has sold a £1.6 billion portfolio of Irish mortgages to Goldman Sachs and CarVal.
The portfolio comprises both buy-to-let residential mortgages and commercial mortgages, and was sold at less than half the face value of the assets involved, people familiar with the matter said.
The sale reduces Lloyds’s exposure to non-performing Irish loans to £1 billion.
http://www.ft.com/intl/cms/s/0/ee4d6c26-7a44-11e4-a8e1-00144feabdc0.html#axzz3KcI71aqx (£)
