Sankaty, Cerberus win last RBS Northern Ireland debt

Sankaty Advisors and Cerberus Capital Management have won Royal Bank of Scotland’s last two portfolios of distressed Irish commercial property loans. Cerberus has bought the Project Rathlin portfolio of RBS's subsidiary Ulster Bank's loans in Northern Ireland for £205m and Sankaty has won its bid for Project Coney, a bundle of loans with an outstanding balance of €465m.