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Lloyds to sell US$500m of shipping loans

It is cutting sector exposure; BOA, US hedge fund seen as possible buyers

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Lloyds Banking Group has reached an agreement to sell US$500 million of shipping loans from its remaining ship finance portfolio as the British bank cuts sector exposure, finance and banking sources familiar with the matter said on Wednesday - PHOTO: REUTERS

[LONDON] Lloyds Banking Group has reached an agreement to sell US$500 million of shipping loans from its remaining ship finance portfolio as the British bank cuts sector exposure, finance and banking sources familiar with the matter said on Wednesday.

The deal is the latest in a flurry of

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