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

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.
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