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>

<< May 2018 >>
MTWTFSS
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 1 2 3

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

THE 7TH EDITION OF NAVALIA, INTERNATIONAL SHIPBUILDING EXHIBITION 2018

The event wanted to be from the beginning a reference for the naval sector and to serve as a tool to attract investors and contracts for the industry…

read more >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >