Barclays Is Said to Plan Sale of Irish Mortgages to M&G, Pimco
Barclays Plc plans to sell notes to M&G Prudential and Pacific Investment Management Co. in a securitization of 4.3 billion pounds ($5.8 billion) of Irish residential mortgages, according to people with knowledge of the matter. Barclays will probably hold about 5 percent of the notes, the minimum required to meet so-called skin-in-the-game rules, said the people, who asked not to be identified because the matter is confidential. Barclays acquired the loans from Lloyds Banking Group Plc in a deal announced earlier Friday.