Report: HSH Nordbank Sells USD 1.75 Bn of Loans

Image Courtesy: HSH Nordbank

German HSH Nordbank has reached an agreement to sell a part of its loan portfolio in the amount of EUR 1.64 billion (USD 1.75 billion), according to Reuters.

As part of its privatization process, the bank, one of the biggest providers of shipping finance, is looking to offload a total of EUR 3.2 billion worth of loans.

Although the buyer of the loans was not unveiled, Reuters earlier cited sources familiar with the matter as saying that Australia’s financial service group Macquarie Group was one of the parties interested in the acquisition.

HSH Nordbank, which will pursue the sale of further loans from its portfolio, is scheduled to be privatized under European state-aid rules by the end of February 2018.

Earlier this week, HSH Beteiligungs Management informed that it launched a bidding process to sell up to 94.9% of the shares in the bank as part of its privatization efforts.

In June 2016, HSH Nordbank transferred a portfolio of non-performing loans from ship financing with a volume of EUR 5 billion to hsh portfolio-management AöR of majority owners Hamburg and Schleswig-Holstein.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Maritime Reconnaissance and Surveillance Technology

Over the past few years, maritime intelligence gathering and ISR capabilities have returned to the forefront of the defence industry…

read more >

BWMTech

Clarify regulations. Plan BWMS integration. Prevent operational failure…

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >