Lloyds Banking Group has agreed to sell a portfolio of loan assets valued at A$371 million US$332 million to a trust managed by Sankaty Advisors.
Sankaty, the credit affiliate of US-based private investment firm Bain Capital, outlined the transaction on Tuesday but did not disclose the price it paid for the assets.
The sale, code-named the Murray portfolio, is part of the UK bank’s efforts to raise capital and refocus on its domestic market.
Sankaty invests in fixed income and credit instruments, including leveraged loans, high-yield bonds, distressed debt, mezzanine debt and structured products and equities. It managed about $20...
¬ Haymarket Media Limited. All rights reserved.
