Herbert Smith Freehills has advised Suncorp Group on its agreement to sell a loan portfolio containing the majority of Suncorp Group’s remaining non-core loan portfolio. A Goldman Sachs subsidiary is the purchaser of the loan portfolio.
The loan portfolio contains non-core corporate and property loans with a face value of approximately A$1.6 billion.
The Herbert Smith Freehills team was led by partners John Nestel and Mark Currell. Lawyers supporting the transaction included senior associates Paul Apathy and Zina Edwards and solicitors James Myint, Calvin Ng and Hunter Drew.
“It was a pleasure to have partnered with the Suncorp Group on this landmark transaction,” said John Nestel.
“The signing of the sale agreement was achieved following an intense and rigorous process involving a number of bidders and we are delighted to have helped Suncorp Group maximise the overall value of the portfolio and supported them in complex negotiations with the bidders.”
