90% of IBRC loan book snapped up by buyers
KPMG’s Kieran Wallace and Eamonn Richardson, the liquidators of IBRC, said the sales process exceeded all expectations with 90% of the par value of the book going to investors.
The last two tranches of the loan books of the State-owned bank have now been divested. Roughly 85% par value of the €9.3bn Project Stone, which was real estate loans originated in the Irish office of Anglo Irish Bank, was sold mostly to four buyers: Deutsche Bank, Lone Star, CarVal Investors and Goldman Sachs.
