ING Groep (ING) is preparing two significant risk transfer transactions covering about $10 billion of loans as it seeks to free up capital for new lending, Bloomberg reported Wednesday, citing people familiar with the matter.

The report said one deal is tied to about $6 billion of US and European project finance loans across sectors including data centers, while a second covers about 3.5 billion euros of loans to Dutch small and medium-sized businesses.

Both transactions are expected to be completed in the coming weeks, Bloomberg said.

The planned project finance SRT is expected to cover about 7% of the underlying portfolio, while the SME transaction represents about 6% of the reference loan book, the people told Bloomberg.

The report said Apollo Global Management (APO) is expected to participate in the project finance transaction.

ING Groep did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)