The $2 billion leveraged buyout of German yachtmaker Bavaria Yachtbau by Bain Capital was part-backed by the bank last June
However, due to balance sheet pressures Goldman is now to sell around one tenth of the loan at a 35 per cent markdown.
"They're prepared to crystallise losses just to get this stuff off their books," an anonymous banker told the Times.
Goldman's partner in the buyout, Dresdner Kleinwort, is understood to be not willing to sell on its debt at present.
News of the discounted sell-off comes as big job cuts are announced at the troubled bank, which was heavily exposed to sub-prime securities prior to the sector's collapse last summer.
Over five per cent of the firm's entire workforce are to be laid off, Reuters reports.
"Given market conditions, we have been looking at a number of areas of the firm where we believe we have too many people," Goldman spokesman Lucas van Praag said.