We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

Close
In association with

Home > Mortgages > Mortgage Products

By Emma Ann Hughes | Published Jun 13, 2012

Bank of Ireland sells loans to Aviva

Aviva Special PFI LP, an investment vehicle established and managed by Aviva Investors, picked up the Bank of Ireland loans for a price of 81 per cent of these commitments.

In a stock exchange announcement this morning (13 June), Bank of Ireland stated the cash proceeds from this loan portfolio sale will further reduce the lender’s funding requirements, in line with the deleveraging plans.

On 24 April 2012, the Bank announced it had completed or contracted divestments amounting to €9.5bn (£7.6bn), at an average discount of 7.6 per cent.

On the basis of the sale announced today (13 June) and other deleveraging initiatives in progress, the Bank expects it will be able to complete its target of €10bn (£8.04bn) of divestments within the overall base case assumptions used as part of the 2011 prudential capital assessment review.

visible-status-Standard story-url-FTA BOI EAH 130612.xml

COMMENT AND REACTION
Most Popular
More on FTAdviser
FTA jobs