RBS property sale may fail

A £1.4bn deal between Royal Bank of Scotland and Blackstone to rid the bank of some of its troubled property loans may fail, robbing the industry of a template for similar transactions, three sources said. The deal required debt funding from third parties of about 60 per cent and was part of a move by RBS to reduce its estimated £80bn property exposure. Blackstone was unable to arrange debt funding from banks for the deal on terms that would make it attractive, one source said.