Lloyds sells Irish loan book to Lone Star

Lloyd’s Banking Group has agreed to sell a portfolio of 4,000 non-performing Irish residential mortgages to US firm Lone Star.

16th October, 2014
Lloyds left the Irish market in 2010

Lloyd’s Banking Group has agreed to sell a portfolio of 4,000 non-performing Irish residential mortgages to US firm Lone Star.

The loan book, known as ‘Project Paris’ is being sold at a discount to its $1.1 billion face value, according to Bloomberg.

Dallas-based Lone Star previously acquired €667 million distressed Irish loans from Investec in September.

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