Royal Bank of Scotland Group (RBS) has agreed to sell a €1.4bn portfolio of primarily senior loans to a fund managed by Intermediate Capital Group.
The sale is in line with RBS’ strategy to reduce its funded balance sheet and exposure to its existing leveraged loan book within its non-core division.
RBS Global Banking & Markets is acting as sole arranger and lead manager on the transaction.
Intermediate Capital Group, which has over 21 years of investment experience, manages approximately €11bn fund.
The transaction is expected to complete by the end of this month.