TITLE

RBS Sells $1.8 billion Loan Portfolio to ICG

AUTHOR(S)
Kellerhals, Richard; Sibayan, Karen
PUB. DATE
August 2010
SOURCE
High Yield Report;8/23/2010, Vol. 21 Issue 34, p6
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the sale of a 1.8-billion-U.S dollar portfolio of leveraged loans by the Royal Bank of Scotland (RBS) to Intermediate Capital Group (ICG). It notes that RBS decided to sell the portfolio to reduce its balance sheet and exposure to its leveraged loan book. According to Intermediate, which has about 11 billion euros under management, it plans to fund the acquisition with equity and debt. Fitch Ratings notes that the deal is financed by securitization of mainly European senior secured loans.
ACCESSION #
53160785

 

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