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Deals

HSBC sells $25bn Australia loan book to Blackstone

HSBC agreed to sell a $25 billion Australian loan book to Blackstone, according to the Financial Times. The disposal marks a significant transfer of assets to the private-capital giant; the report described the sale without detailing the price paid or the composition of the loan portfolio being offloaded by the bank.

Why it matters

The deal reflects banks shedding assets and private-capital firms' growing appetite for loan portfolios once held by traditional lenders.

Sources

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