Bank of Ireland Sells North American Energy Loans

by Terrence Murray - November 30, 2011

Bank of Ireland (BofI) has sold a €590 million ($793 million) book of project finance loans supporting energy and renewable energy projects to the Sumitomo Mitsui Banking Corporation (SMBC).

The loans supports energy and renewable energy  projects in North America and  Europe, the Irish bank said in a statement.

BofI, one of the hardest hit bank by the 2008 financial crisis, sold these loans as part of its ongoing deleveraging plan, which in October saw GE Energy Financial Services acquire a nearly $1 billion energy loan portfolio.

This year alone BofI has sold  €1.55 billion in project finance loans supporting energy and other infrastructure projects located in Europe and North America.

 

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