Lloyds (LYG) continues to make progress in reducing £23.6B ($36.9B) of troubled loans, with...

|About: Lloyds Banking Group plc (LYG)|By:, SA News Editor

Lloyds (LYG) continues to make progress in reducing £23.6B ($36.9B) of troubled loans, with reports saying the bank has chosen P-E firm Lone Star as the preferred bidder for a £1B ($1.6B) portfolio of U.K. commercial-property debt. Royal Bank of Canada (RY) and Citigroup (C) are backing the bid with £300M of debt.