We learn via the UK commercial property portal CoStar, that AIB, in which we own 98.8% of the shares, has put a portfolio of seven loans on the market. The loans have a par value of GBP 200m (€235m) and are expected to sell for 50c in the euro, according to CoStar, even though the underlying property is said NOT to be distressed.
Citgroup is managing the sales process, and it has been ongoing for some time, with a second round of bids expected “within the next month”
The loans relate to hotel assets of Surinder Arora dotted around the UK, one loan alone relates to a portfolio of 33 hotels. The loan sale has been dubbed “Project River”
AIB has been busy in recent months in offloading loan portfolios; just last month it sold €400m of loans secured by Banca Santander branches in Spain for €320m, and late in 2012, EBS which is part of AIB sold €660m of Irish commercial loans dubbed Project Kildare for €250m to Lone Star.
NAMA Wine Lake 
Do lone star and costar have any” relations” in common I wonder
“Not distressed”, yet they are prepared to sell for 50 cent in the Euro. So how much are they prepared to sell distressed assets for, 10 to 20 cent in the Euro?
Don’t think the Orion /Denis trade actually closed