Truist to sell $7.7 billion in LightStream loans to Carlyle
TFC•Truist signed a deal to sell $7.7 billion of loans representing substantially all LightStream assets to Carlyle, generating $7.2 billion in net proceeds and about $850 million, or 20 basis points, of CET1 capital. Truist also expects fourth-quarter adjusted revenue of about $5.35 billion and net interest income of $3.65 billion to $3.7 billion.
1. LightStream loan sale
Truist Financial signed an agreement to sell $7.7 billion of loans representing substantially all LightStream assets to Carlyle Group. The sale is expected to generate $7.2 billion in net proceeds and create about $850 million, or 20 basis points, of CET1 capital.
2. Fourth-quarter outlook
Truist expects fourth-quarter adjusted revenue of about $5.35 billion, net interest income of $3.65 billion to $3.7 billion, a net charge-off ratio of about 0.45%, and noninterest expense up about 2.5%. The company also expects about $1 billion in share repurchases and said it is on track to achieve its ROTCE targets.
