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Lloyds unit said to sell commercial property loans in Australia

Posted on 16 March 2012

BOS International, an Australian unit of Lloyds Banking Group Plc (LLOY), plans to exit the market for commercial property after selling distressed loans with a face value of A$2.1 billion ($2.2 billion), a person familiar with the matter said.
The sales began last week and will take several months to complete, according to the person, asking not to be identified because the details are private. The loan portfolio is linked to properties in the states of Queensland, New South Wales, Canberra and Victoria, the person said………………………………………..Full Article: Source


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