Mariners Rescued from Disabled Barge Off Rhode Island
Three mariners were rescued from a disabled barge off the coast of Point Judith, Rhode Island on Wednesday after their tug sank. The U.S. Coast Guard reports that watchstanders at...
LONDON, Feb 13 (Reuters) – Lloyds Banking Group is looking to sell $500 million of shipping loans in what is likely to be the final big sale of loans from its ship finance portfolio as the British bank accelerates its exit from the sector and reduces capital exposure, trade finance and banking sources familiar with the matter said on Thursday.
The state-backed bank declined to comment.
Lloyds accelerated the sale of its shipping portfolio last year, and said in its results on Thursday it had sold 2.7 billion pounds ($4.48 billion) worth of shipping loans in 2013.
© 2014 Thomson Reuters. All rights reserved.
Join the 62,483 members that receive our newsletter.
Have a news tip? Let us know.