Lloyds sells portfolio of loans to Bain

The UK bank has agreed to sell a portfolio of loans valued at A$371 million to a trust managed by Sankaty Advisors, an affiliate of Bain Capital.

Lloyds sells portfolio of loans to Bain
The sale, code-named "the Murray portfolio", is part of the UK bank’s efforts to raise capital and refocus on its domestic market.

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...

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