GE Completes Sale of US$5.8 Billion UK Home Lending Portfolio
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General Electric (GE) Announces Completion of ~$5.8B UK Home Lending Mortgage Portfolio
December 4, 2015 7:33 AM ESTGeneral Electric (NYSE: GE) has completed the sale of a portfolio of first lien mortgage loans from its UK Home lending business, representing aggregate ending net investment (ENI) of approximately US$5.8 billion to an investment consortium made up of opportunistic funds managed by Blackstone, TPG Special Situations Partners (TSSP), and CarVal Investors. The loans have a face value, or customer servicing balance of US$5.9/£3.8 billion. Terms of the transaction were not... More
