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Cerberus to pay £315m for Project Thames NPL financed by Nomura

Cerberus Capital Management has won its first European non-performing loan portfolio (NPL) from Lloyds Banking Group, after emerging as the highest bidder on Tuesday for the bank’s Project Thames portfolio, paying around £315m which will be financed by Nomura.
By James Wallace
May 9, 2013 | 7:05 P.M.

Competition between the underbidders Apollo Global Management and the joint bid by Kennedy Wilson and Deutsche Bank was significant, with cover bids coming in at between £305m to £310m.

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