£12bn of loans to be offloaded
PricewaterhouseCoopers has forecast that the value of commercial property loans sold by deleveraging banks – usually at a heavily discounted rate – will be 20 per cent higher than last year when sales amounted to €12.5bn.
According to the Co-Star Finance Blog, Lloyds led the UK market for such deals in 2012 followed by the Irish government-backed “bad bank” Nama.
This year, Commerzbank could sell-off part of its £5bn UK loan book, having appointed Barclays Capital to do a deal in November. Lloyds is also expected to bring the £500m Project Wagner to market.