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Royal Bank of Scotland Regulatory News (RBS)



Regulatory News for Royal Bank of Scotland (RBS)


Share Price: 388.40Bid: 388.30Ask: 388.50Change: 1.40 (+0.36%)Riser - Royal Bank Scot
Spread: 0.20Spread as %: 0.05%Open: 387.30High: 390.80Low: 385.70Yesterday’s Close: 387.00





Sale of Loan Portfolio to Intermediate Capital

Tue, 17th Aug 2010 08:55

RNS Number : 1784R
Royal Bank of Scotland Group PLC
17 August 2010
 

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17 August 2010

 

The Royal Bank of Scotland  Group  plc  ('RBS')  to sell a portfolio of loans to a fund managed by Intermediate Capital Group plc ('ICG')

 

The Royal Bank of Scotland Group plc ('RBS') announces today that it has agreed to the sale of a €1.4 billion portfolio of primarily senior loans to a fund managed by Intermediate Capital Group plc ('ICG'). The transaction is expected to complete by the end of August 2010. 

 

ICG is a FTSE 250 listed investment firm and fund manager, highly experienced in managing senior loans with approximately €11 billion under management in proprietary capital and third party funds and over 21 years of investment experience. 

 

RBS continues to demonstrate progress with its strategic plan. This sale is in line with the Group's strategy to reduce its funded balance sheet and exposure to its existing leveraged loan book within its Non-Core Division. 

 

RBS Global Banking & Markets is acting as Sole Arranger and Lead Manager on this transaction.

 

For further information:

 

Alexander Holcroft

Investor Relations 

+44 (0) 20 7672 1758

 

Group Media Centre

Tel: +44 (0) 131 523 4205

 

END

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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