Citi in talks over $3 billion in car loans: report
From Reuters US Online Report Business News | 2010-02-08 14:13:55
<div><p>PHILADELPHIA (Reuters) - Citigroup Inc &lt;C.N&gt; has held talks with private equity groups and hedge funds over the sale of $3 billion in car loans in a move to clear troubled assets from its balance sheet, according to a report by the Financial Times.</p><p>Citigroup is believed to have offered to provide the buyers of the loans with financing for a few years after the sale, according to the report in the electronic edition of the newspaper.</p><p>Some private equity groups and hedge funds said the assets were less attractive due to the lack of a thriving market for securitized bonds, which are backed by cash flow from loans, the newspaper said.</p><p>Citigroup could not be immediately reached for comment.</p><p>(Reporting by Jessica Hall; Editing by Bernard Orr)</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=68660804&bid=informcom" /></div><div id="copyright"><div>
Copyright 2010 <a href="http://www.reuters.com/finance">Reuters US Online Report Business News</a></div></div>
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