Today is the deadline for bids for the largest tranche of loans being sold by the liquidators of IBRC, formerly Anglo Irish Bank. 

The loans are currently valued at €9.3 billion and were used to purchase commercial property. 

Lending for Irish properties make up 42% of the loans, while 40% are in the UK, 15% in continental Europe and 3% in the rest of the world. 

According to CoStar Finance, Lone Star and Deutsche Bank are separately bidding for all of "Project Stone", while partial bids are expected from the CarVal Investors and Goldman Sachs Special Situations Fund consortium, as well as Apollo, Cerberus and Oaktree.

Last week the liquidators KPMG received bids for the portfolio of €1.8 billion of residential mortgages originally issued by Irish Nationwide. However, the outcome of that competition has not yet been announced.  

Meanwhile, CoStar also says that considerable interest is expected at next Friday’s first round bidding stage for Ulster Bank’s €844m "Project Button".

The centrepiece property is Dundrum Town Centre in Dublin. It is the country's biggest shopping centre with over 169 tenants, which was developed by Joe O’Reilly. 

Project Button is comprised of 72 assets, including 38 properties in Dublin, three assets in London and two in Scotland.