HSH Nordbank strengthens its position in USD business with USD 700 million funding
Hamburg/Kiel, December 18, 2013 - With a wholesale secured financing transaction jointly arranged and executed with Citigroup, HSH Nordbank strengthens its position in the important USD-based lending business. OCEAN FUNDING 2013 raises up to USD 700 million for HSH Nordbank.
The transaction is collateralized with a portfolio of approximately 30 shipping loans origi-nated and arranged by HSH Nordbank. OCEAN FUNDING is the first transaction of its kind for HSH Nordbank and could pave the way for similar USD transactions by HSH Nordbank with other asset classes and other counterparts.
“OCEAN FUNDING 2013 is an example of how HSH Nordbank successfully structures and realizes large-volume USD funding transactions with a strong partner. The quality of our portfolio and the market demand opens up the opportunity for comparable transactions with a range of well-known investors,” said Mark Bussmann, Head of Strategic Treasury of HSH Nordbank.
“OCEAN FUNDING 2013 evidences our strategic footprint in Germany as an arranger for USD funding transactions in diverse loan asset classes and as a partner in global asset based finance solutions,” said Christian Spieler, Head of Markets Germany & Austria of Citigroup Global Markets Deutschland AG.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
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