HSH Nordbank finances four commercial passenger jets for Shandong Airlines
Hamburg/Kiel, August 7, 2008 - HSH Nordbank’s air finance specialists have closed their first pre-delivery onshore aircraft financing in China. This marks the first-ever complete handling of a pre-delivery financing for a Chinese borrower from the air transportation sector by HSH Nordbank’s Shanghai branch. The financing is for three Boeing B737-800 for Shandong Airlines. In addition, HSH Nordbank will also provide Shandong Airlines with long-term finance for another plane of the same type. The total loan volume is in the vicinity of USD 60 million.
HSH Nordbank believes that this deal will have a strong strategic importance for the further expansion of its activities in China. “Our outlook for the entire transportation and infrastructure sectors in China is highly optimistic and we will continue to expand our activities in the region further,” said Mathis Shinnick, Global Head Transportation at HSH Nordbank. This latest deal comes close on the heels of a credit line opened by HSH Nordbank to support Chinese airport operator HAG in taking over a number of small and mid-sized airports in central and western China.
Founded in 1994 and based in Jinan, Shandong Airlines mainly operates Chinese trunk routes. The carrier is majority-owned by Air China, the country’s second-largest airline.
HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 204 billion. Some 4,800 of the bank’s employees provide corporate and high net-worth clients around the globe with premium bank products and services. In its core region of Hamburg and Schleswig-Holstein, it is the market leader in the corporate customer segment. HSH Nordbank is an acknowledged partner of the capital markets and international sector specialist. Its main focus is on transportation and real estate. In fact, HSH Nordbank is the world’s largest provider of ship finance and covers the entire value chain in the transportation segment. In the area of real estate, HSH Nordbank is one of the strongest banks in Germany, acting as a provider of services relating to all aspects of real estate.
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