Japan-based ORIX Corp. agreed to purchase US$290 million worth of shipping loans from Royal Bank of Scotland Group Plc, Reuters reported Jan. 20, citing "sources with direct knowledge of the deal."

RBS will also sell a further $300 million of loans to Joh. Berenberg Gossler & Co. KG, the sources added.

The loans ORIX is buying are primarily of investment grade and were made to Greek borrowers. ORIX has also been in talks with other lenders to the shipping sector, the report added.

RBS had tried to sell the entirety of its Greek shipping business, valued at the time at $3 billion, with ORIX and Berenberg both having been prospective bidders, Reuters noted. It is now in the process of winding down the business.