Bank of Montreal Is Exploring Sale of RV Loan Portfolio
- KKR among potential bidders; BMO to provide deal financing
- Banks have been shedding assets in effort to shore up cash
People browse among recreational vehicles, mobile homes, and motor homes.
Photographer: Giorgio Viera/AFP/Getty ImagesThis article is for subscribers only.
Bank of Montreal is exploring the sale of a portfolio of recreational vehicle loans, according to people with knowledge of the matter.
The bank is in discussions with buyers including the credit arms of alternative asset managers, the people said, asking not to be identified discussing private information. The face value of the portfolio is at least $5 billion, some of the people said. KKR & Co. is among potential bidders, according to people with knowledge of the matter.