Member access

4-Traders Homepage  >  Shares  >  London Stock Exchange  >  Lloyds Banking Group PLC    LLOY   GB0008706128

News SummaryMost relevantAll newsSector news 

Lloyds Banking Group PLC : Lloyds Plans to Sell £1.2 Billion of Distressed Debt

11/22/2012 | 09:16pm US/Eastern

Lloyds Banking Group PLC (LLOY.LN) plans to sell 1.2 billion pounds ($1.9 billion) of distressed mortgages tied to European real estate, the Financial Times reported Thursday on its website, without directly citing a source.

Lloyds has approached possible buyers about a portfolio of German commercial property mortgages with a face value of 850 million euros ($1.1 billion) to EUR900 million as part of a sale process referred to internally as Project Chamonix, the report said.

Separately, the bank is believed to be preparing to sell GBP500 million of non-performing U.K. property loans, the report said.

Lloyds declined to comment on either sale, the report said.

Subscribe to WSJ:

React to this article
01:34a TSB BANKING : *barclays raises tsb price target to 340 (270) pence - 'equal weig..
04/20 LLOYDS BANKING : share sale is a bung to those who can afford it
04/20 MITIE : Shares sell-off pledge prompts union demand
04/20 Lloyds says would support Conservative's share sale plan
04/20 MITIE : Lloyds Bank pushed on wages ; UK BULLETINS
04/20 LLOYDS BANKING : UK Conservatives Confirm Plan For Retail Offer Of Lloyds Shares
04/20 MITIE : Lloyds Bank living wage ; BRITAIN TODAY
04/20 LLOYDS BANKING : MOVE TO KEEP YOUNG OUT OF CRIME GANGS ; Government-backed schem..
04/20 LLOYDS BANKING : Cable warns of potential hiccup in Lloyds sale
04/20 LLOYDS BANKING : *goldman raises lloyds price target to 87 (85) pence - 'neutral..
Duration : Period :
Lloyds Banking Group PLC Technical Analysis Chart | LLOY | GB0008706128 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes