Lloyd's (LYG) plans to unload, for $621M, a portfolio of troubled Australian property loans to a...

|By:, SA News Editor

Lloyd's (LYG) plans to unload, for $621M, a portfolio of troubled Australian property loans to a group led by Blackstone and Morgan Stanley. The face value of the paper is $1.8B. The move is part of a continuing process aimed at shoring up the bank's balance sheet.