Daily News: January 16, 2018

13 Banks to Lose Millions After Carillion Collapse


Reuters reported that British lenders, including Barclays, the Royal Bank of Scotland and Lloyds Banking Group, may lose hundreds of millions of pounds in outstanding loans following the collapse of UK-based Carillion, a facilities management and construction company.

According to Reuters, the syndicate arranged a £790 million ($1.1 billion) revolving credit facility for Carillion in 2015, which made up the bulk of £835 million ($1.14 billion) worth of syndicated bank loans owed by Carillion that mature in 2020.

Carillion’s creditors, added Reuters, have around £1.6 billion ($2.2 billion) of debt exposure to the company, which collapsed on Monday.