17 Aug 2010 08:55
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
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