Exclusive: AIB scales back loan sale by €2bn

Exclusive: AIB scales back loan sale by €2bn

Project Redwood, which had been billed as a €3.75 billion loan sale process, is now likely to contain just €1.6 billion worth of debt, after the bank revised the size of the loan book down in recent weeks

AIB has stripped back the size of its largest ever loan sale, taking hundreds of millions of euro of soured debt off the table amid political pressure over the sale of debts to vulture funds.

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