Lloyds Bank Puts Off €15B Loan Sale Plans

Lloyds Bank has postponed its plans to sell syndicated loans.

Lloyds Bank has postponed its plans to sell syndicated loans, Reuters reports. The move comes after loan prices slumped amid extreme market volatility in August.

The lender aimed to sell €10 billion to €15 billion of leveraged loans by September. Lloyds has been selling non-core loan exposure outside the U.K. in the last 12 months at sub-market prices to clear a backlog of doubled-up loan exposure after its merger with Bank of Scotland in September 2008.

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