US investment firms Lone Star Funds and Kennedy-Wilson Holdings are among remaining bidders for parts of about two billion euros of mainly Irish real estate loans that Lloyds is selling, according to Bloomberg reports.
Lloyds has attracted bids of 10 to 15 cents in the euro for the so-called Pittlane portfolio.
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The bank has already taken £11.8bn of impairment charges on Irish loans since the nation's real estate market collapsed four years ago, according to data compiled by Bloomberg News.
Irish commercial real estate prices have plunged by two-thirds from their 2007 peak, according to Investment Property Databank, while residential property values have fallen by 50%, according to the country's statistics office.
CM
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Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
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How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
