In an update to the market on its deleveraging efforts, BoI said it remains on track to reach targets following. The sale of its $1.13bn US commercial real estate loan portfolio to Wells Fargo Bank was sold at par, which BoI said reflected the quality of the portfolio; while the sale of 1.6bn (£1.33bn) of UK commercial real estate loans to Kennedy Wilson, the US real estate investment and services firm, and institutional partners, reflected an almost 20% discount, or a price of £1.07bn.