Lloyds Banking Group PLC (LLOY.LN, LYG) sold a 1.6 billion pound ($2.5 billion) mortgage portfolio to Goldman Sachs Group Inc. (GS) and CarVal Investors, the Financial Times reported Tuesday.

The purchase price is slightly below 50% of the face value of the underlying assets, the FT reported, citing people familiar with the situation.

The portfolio includes commercial and buy-to-let residential mortgages, the FT reported.

Website: www.ft.com

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