Lpc barclays to sell $1 bln loan portfolio

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Oct 15 Barclays is selling a 650 million pound ($1.01 billion) portfolio of middle market loans, banking sources said on Thursday. Barclays is auctioning the portfolio, which consists of performing UK loans. The bank is seeking to sell the portfolio to a fund rather than another bank, the sources said.

Up to five funds were shortlisted for a second round of bids, the sources said.

Banks have been selling loan portfolios in the last few years to deleverage and clean up their balance sheets, amid tougher regulations and capital constraints.

Barclays was not immediately available to comment. ($1 = 0.6465 pounds)