A 1.4 billion pounds ($2.2 billion) deal between Royal Bank of Scotland and Blackstone to rid the bank of some of its troubled property loans may fail, robbing the industry of a template for similar transactions, three sources said.
The deal, code named Project Isobel, required debt funding from third parties of about 60 percent and was part of a move by RBS to reduce its estimated 80 billion pounds property exposure, after its government bailout during the credit crisis……………………………………….Full Article: Source