AIB agrees sale of non-performing loans to Mars Capital for €400 million
The cash, the bank said, will be used for general corporate purposes, including the continuation of support for customer restructuring
AIB, the Irish lender, announced that it has agreed to sell a non-performing loan portfolio in long-term default to Mars Capital Finance, the loan service provider for €400 million.
When completed, AIB will receive €400 million in cash from the consortium consortium involving US-based Ellington Financial and Morgan Stanley. This cash, the bank said, will be used for general corporate purposes, including the continuation of support for customer restructuring.
As of June 2021, the loan ...
