Tag Archives: RBS

RBS upsizes Project Aran to €6bn with retained three finalists

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Royal Bank of Scotland has upsized its Irish non-performing real estate loan portfolio, Project Aran, by €4.3bn to approximately €6.0bn, with the same three-strong finalists now to bid across the enlarged NPL. RBS took the decision almost two weeks ago … Continue reading

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Dublin’s High Court grants temporary freezing order over sale of Project Achill’s Pool E

Dublin’s High Court has today granted an ex parte interim injunction preventing the sale of Ulster Bank’s Pool E loan tranche in Project Achill, after the borrower requested a hearing to establish whether the interest rate swap mis-selling claim must be settled first. Vierai … Continue reading

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Finalists emerge on RBS’s reduced Project Button as NAMA buys Dundrum position to unite legacy debt

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RBS has selected three finalists to progress to the second round on the reduced Irish and UK commercial property loan portfolio, dubbed Project Button, as part of the bank’s accelerated de-leveraging programme for its Ulster bank subsidiary. CoStar News understands … Continue reading

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Capital & Counties secures £665m six-bank RCF leaving £400m in available debt capital

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Capital & Counties Properties has closed a £665m five-year revolving credit facility (RCF) for its £1.2bn-valued Covent Garden commercial property portfolio with six banks, refinancing the listed property company’s three existing facilities and migrating to more flexible unsecured lending. CoStar … Continue reading

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Royal Bank of Canada finances Lone Star’s Project Holly and 75 St Stephen’s Green

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Royal Bank of Canada (RBC) Capital Markets has financed Lone Star’s recent Project Holly Irish commercial real estate loan portfolio win from NAMA and a legacy RBS loan secured by and 75 St Stephen’s Green in Dublin with combined €210m … Continue reading

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Cornerstone hires RBS’ non-core real estate director in high-yielding European expansion

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Cornerstone Real Estate Advisers Europe has recruited Kristina Foster from RBS’ non-core real estate division to aid the senior lending team’s expansion into mainland Europe and search for higher yielding senior loan investments. Foster, who joins as European real estate … Continue reading

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Rory Cullinan appointed to run RBS’ £38bn internal bad bank

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RBS has appointed Rory Cullinan, the bank’s non-core chief executive, to head up the newly-created internal bad bank, RBS Capital Resolution (RCR). The new division will include RBS Capital Resolution (RCR) responsible for the accelerated rundown of £38bn of assets. … Continue reading

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Derwent London signs £550m RCF with HSBC, RBS, Barclays and Lloyds

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Derwent London has signed a five-year £550m unsecured revolving credit facility (RCF) with HSBC, RBS, Barclays Bank and Lloyds Banking Group, replacing a £650m secured facility from the same four banks and increasing the London REIT’s total uncharged real estate … Continue reading

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RBS takes £14bn loan impairment hit on £45bn of property loans since 2009

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Royal Bank of Scotland has shed £44.5bn of non-core global commercial property loans in the last four-and-a-half years, at a cost of £13.8bn in write-downs against impaired loans, reflecting a weighted average write-down of 31% over the loans. Annual write-downs … Continue reading

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