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Irish bank gears up to sell EUR 1.4b in property loans - report
Date: 28 November 2011
State-controlled lender Allied Irish Banks is mulling the sale of up to EUR 1.4 bn of property loans made on homes, offices and shops across Ireland, according to a news report in the Financial Times.

Potential advisers are pitching for the mandate, expected to make submissions to AIB by the middle of next week. The portfolio is made up of EUR 1.1 bn of commercial property loans, at least half of which are understood to be distressed, the FT said. The remaining EUR 300 mln consists of loans on houses and apartments spread across the country, most of which are thought to be performing.

The lender has not yet decided on whether it will sell the loans in a single portfolio deal, or break them up into smaller packages.
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