Lloyds sells housebuilder stake as it closes door on residential

摘要

Lloyds Banking Group has put Avant Homes, the residential developer formerly known as Gladedale, up for sale. The state-backed bank has appointed Rothschild to oversee the sale. The sale would represent the bank's exit from one of its last remaining stakes in a housebuilder that it backed during the boom times of the early-to-mid-2000s. Avant has around £455m in debt, which Lloyds refinanced last year.