Wells Fargo Lent to UK’s MFS as Barclays Exited Deal, Froze Accounts

Barclays Plc was replaced by Wells Fargo & Co. as a lender for a property portfolio assembled by Market Financial Solutions Ltd., days after the UK bank began freezing the now-collapsed mortgage firm’s accounts.

A company tied to MFS borrowed £143 million ($193 million) from Wells Fargo in a deal that closed in late November, according to people with knowledge of the matter and documents seen by Bloomberg. Barclays was repaid roughly the same amount as a result of the transaction, the people said.