Lloyds sells loan portfolio to Apollo at 90% discount

By A staff reporter 2012-11-19T00:00:00

Lloyds Banking Group has announced the sale of a EUR 1.8 bn portfolio of Irish commercial real estate loans to Risali, an entity affiliated with Apollo Global Management. The transaction price amounts to £149 mln (EUR 185 mln) in cash, reflecting a nearly 90% discount to value.

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