Barclays has entered into an agreement to sell approximately $1.1 billion worth of US credit card receivables to insurance accounts managed by Blackstone's asset-based finance group. This move is part of Barclays' strategy to reduce its risk-weighted assets and clear up space on its balance sheet for more lending. Since last March, Blackstone has been active in striking a number of such asset-backed deals, marking a significant step by the British bank in its efforts to manage its financial assets more efficiently.
Barclays to sell $1.1bn of US credit card debt to Blackstone https://t.co/dU52iOMDxj https://t.co/LE0xd1k56S
Barclays is selling $1.1 billion of credit-card receivables to Blackstone as part of a push by the British bank to clear up space on its balance sheet for more lending. https://t.co/7gudkV4Lzo
Barclays is selling $1.1 billion of credit-card receivables to Blackstone as part of a push by the British bank to clear up space on its balance sheet for more lending. https://t.co/1AB4UcoTbQ
⚠️ BARCLAYS TO SELL US CREDIT CARD RECEIVABLES WORTH $1.1 BILLION TO BLACKSTONE-MANAGED GROUP (Reuters) Barclays said on Tuesday it has entered into an agreement with insurance accounts managed by Blackstone's asset-based finance group to sell about $1.1 billion worth of…
Blackstone is buying $1.1bn in U.S. credit card debt off of Barclays as the bank cuts risk weighted assets. Since last March, Blackstone has struck a number of such asset-backed deals. With @OrtencaAl @sjhmorris https://t.co/QW9RurtdLl
Barclays offloads US credit card debt to Blackstone https://t.co/iwhksMfSXW