RBS Preparing To Sell Up To GBP3 Bln Of Property Loans - FT

7th Jul 2010 01:42

DOW JONES NEWSWIRES Royal Bank of Scotland Group PLC (RBS) is getting ready to sell up to GBP3 billion ($4.5 billion) of real estate loans that it made during the property boom, the Financial Times reported Tuesday on its website, without directly citing sources. The disposal is part of an RBS plan to reduce its loan book, the report said. It said that further loan sales would be likely if this one is successful, and that RBS has been working with Lazard to create a structure to sell a large amount of real estate debt. The report cited unidentified people close to the talks as saying that the project is in the early stages and that formal marketing hasn't yet begun. RBS and Lazard declined to comment, the report said. Full story: http://www.ft.com/cms/s/0/91d8cafc-8936-11df-8ecd-00144feab49a.html (END) Dow Jones Newswires July 06, 2010 20:42 ET (00:42 GMT)