Ulster Bank seeks bids for €2.5 billion distressed debt portfolio

The sale includes 900 mortgages secured on family homes

25th May, 2016
The sale process has been dubbed Project Oyster by the bank

Ulster Bank, the RBS-owned lender, has taken the wraps off a €2.5 billion sale of distressed debt that will include the sale of 900 mortgages secured on family homes.

The future of the mortgage holders, as well as many small business owners and owners of buy-to-let properties, will be determined in the coming weeks as bids are sought on the loan book, which represents the last elements...

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