WEXFORD LOANS INCLUDED IN ULSTER BANK SELL OFF OF PORTFOLIO
Ulster Bank has agreed the sale of a portfolio of its loans attached to a number of hotels, pubs and other premises and sites in Ireland.
There’s an outstanding balance of 465 million euro on the loans.
The Project Coney portfolio includes loans attached to the Griffin Hotel Group in Wexford.
This includes the Ferrycarrig Hotel, Monart Spa and Resort Centre and Hotel Kilkenny.
The loans have been sold to a US based affiliate of Bain Capital.
It’s the latest step by Ulster Bank to deleverage its balance sheet in Ireland.