07/17/2008
Deutsche Bank and HSH Nordbank arrange financing of ten capesize bulkers for E. R. Schiffahrt
A banking syndicate led by Deutsche Bank AG and HSH Nordbank AG has arranged the syndication of a USD 753.1 million loan for the financing of ten capesize bulkers for Hamburg-based shipping company E. R. Schiffahrt GmbH & Cie KG. E. R. Schiffahrt’s equity portion in the deal amounts to approx. USD 300 million for a total investment volume of USD 1.056 billion.
read more07/10/2008
HSH Nordbank and European Investment Bank finance deluxe ferryboat for Tallink Grupp
The financing for one of the largest ferries traversing the Baltic Sea was structured for the AS Tallink Grupp by HSH Nordbank. The MS “Baltic Princess”, built in the Finnish shipyards Aker Yards OY, was delivered today. The ship is 212 meters long, can travel at up to 24 knots and offers among other things room for 2800 passengers, 12 restaurants, bars, shops and a spacious conference center.
read more07/08/2008
Medical engineering – a booming industry of the future
HSH Nordbank has teamed up with Hamburgisches WeltWirtschaftsInstitut (HWWI) to analyse the economic prospects of Germany’s medical engineering sector. Entitled “Zukunftsbranche Medizintechnik – auch im Norden ein Wachstumsmotor“, the new study shows that the medical engineering sector has grown significantly, driven by rising global demand for healthcare services and, hence, for medical engineering products. In particular, international trade in medical products has grown dynamically. Germany’s strong standing in this sector is primarily reflected in exports. The main markets for medical engineering products made in Germany are the USA and the EU. In recent years, the new EU countries and the expanding economies in Asia, especially China, have gained importance. “This trend has primarily benefited the northern German federal states. In Hamburg and Schleswig-Holstein, sales of medical engineering products have increased faster than the German average,” said Dirk Gojny, Head of Research at HSH Nordbank.
read more07/04/2008
High Court rejects UBS counterclaim against HSH Nordbank
The High Court of Justice in London today rejected UBS’s counterclaim against HSH Nordbank in relation to the North Street 2002-4 CDOs.
read more06/30/2008
HSH Nordbank opens shipping office in Naples
HSH Nordbank, the world's leading ship financier, will open a new office in Italy for shipping clients on July 1. Mario Pascarella will head up the new office on Piazzeta Matilde in Naples' banking district as General Manager. Pascarella, 44, comes to Naples from Norship Italia, an HSH Nordbank subsidiary which has already been active on the Italian market for some years now. Prior to switching over to the shipping finance business, Pascarella spent 9 years as a Merger & Acquisitions Specialist at PricewaterhouseCooper. In outstanding loans alone, he and his team have granted a total of around half a billion dollars to about a dozen clients.
read more06/20/2008
HSH Nordbank reports positive result for Q1 2008
As expected, HSH Nordbank reported a positive result for the first three months of 2008. The Bank generated a consolidated net profit of EUR 81 million (Q1 2007: EUR 389 million). The operating profit declined to EUR 39 million (Q1 2007: EUR 426 million).
read more06/16/2008
HSH Nordbank places Treasury Funds
The Treasury Funds launched by HSH Nordbank can now be traded. Following a six-month pre-sales phase, current quotes for the V3, V6 and V9 Treasury Funds can be viewed on Bloomberg.
read more06/13/2008
HSH Nordbank makes successful debut in Polish market for renewable energies
HSH Nordbank AG will finance four wind farms with a total capacity of 146 MW in Poland for one of Denmark’s leading investment firms within renewable energy production, Danish Scan Energy A / S. Together with the Polish subsidiary of German plant developer Vortex Energy Group, the Bank supports the construction and start-up of the turbines with an investment volume of EUR 285 million in its role as Mandated Lead Arranger. Following completion, the wind turbines will be sold to Scan Energy. This transaction marks the entry of HSH Nordbank, a world-leading financier of energy projects, in the Polish market for renewable energies.
read more06/13/2008
HSH Nordbank and KfW IPEX-Bank sign “Railpool” Joint Venture
With the signing of a Joint-Venture, HSH Nordbank AG and KfW IPEX-Bank GmbH have prepared the ground for a new asset manager in rail transportation named Railpool GmbH, to be founded in July. Each of the banks will own half of Railpool, which is to be based in Munich. The two banks will found the company on the basis of their conviction that the privatization of European rail transportation will continue to move ahead. There will also be an increasing need for rail assets provided by private rail operators. According to estimates, Western Europe will need EUR 5.6 billion in new locomotives by 2015. During the same timeframe, a similar amount will be needed for regional rail transport.
read more06/05/2008
HSH Nordbank appoints Frank-Rainer Roth to the Management Board
The Supervisory Board of HSH Nordbank has appointed ‘Generalbevollmächtigter’ Frank-Rainer Roth (48) to the Management Board effective July 1, 2008. Roth will take over the duties of Chief Operating Officer (COO). He joined HSH Nordbank in May 2007 and has been responsible for IT/Organization, Transaction Services and Facility Management. Before joining HSH Nordbank, he was Chief Information Officer at Dresdner Kleinwort in London and division manager at HypoVereinsbank in Munich.
read more06/04/2008
Ships to remain an attractive investment
The past few months have seen freight volumes, charter rates and ship prices in the global shipping sector rise to new record highs. So will ship investments continue to produce such impressive returns as in recent years? This topic will be debated by internationally renowned experts at the Marine Capital Conference 2008 on Wednesday, 11 June.
read more05/29/2008
HSH Nordbank Finances Property Portfolio for Delta Lloyds Fund in the Netherlands
HSH Nordbank will make a Euro 65 million loan available toward the financing of a real estate portfolio by Delta Lloyd Dutch Property Fund C. V. in Amsterdam. The property fund is a member company of Delta Lloyd Group that is about to be launched for institutional investors and other qualified investors in the form of a non-listed Dutch REIT. The fund will seek to set up, before the end of 2010, a diversified portfolio of residential, office and retail properties with an investment volume of Euro 500 million.
read more05/29/2008
Economy continues to cloud over - HSH Nordbank’s outlook for the second half of 2008
The cyclical downturn is set to continue globally, according to a forecast by HSH Nordbank in its economic outlook for the second half of 2008. “The economic downturn is exacerbated by the impact of the U.S. housing market crisis, particularly in the United States and to some extent also in the euro zone,” said Dr. Bernhard Blohm, Chief Economist at HSH Nordbank. Indirect strain factors that exert a global effect have been triggered by the depreciation of the U.S. Dollar. Although a pronounced recession is being prevented in the U.S. through the export-stimulating impact of the weak dollar, economic growth until 2010 will remain below the potential of 2.5%, with 1.4% in 2008 and 1.7% in 2009. In the euro zone, too, growth is forecast at 1.5% in 2008 and 1.7% in 2009, i.e. below the figure of between 2% and 2.5%.
read more05/21/2008
HSH Private Equity GmbH acquires fashion manufacturer gardeur ag, Mönchengladbach
The investor HSH Private Equity (Hamburg) has concluded a contract on the acquisition of 100% of the shares of gardeur ag. The transaction, which is subject to anti-trust board approval, is expected to be completed as early as in the second quarter of 2008. Both parties agreed to refrain from disclosing details on the purchase price. The Frankfurt based investment bank Metzler was commissioned with the sale.
read more05/20/2008
HSH Nordbank strengthens equity base
The Supervisory Board of HSH Nordbank decided at its meeting of May 19, 2008 to propose to the extraordinary general meeting mid July an improvement in the capital structure and a substantial strengthening of the Bank’s capital base with a view to financing its growth. The capital measures have a volume of nearly EUR 2 billion. Of this figure, around EUR 1.26 billion will be fresh funds. The shareholders are in final negotiations on these measures which are still subject to approval of the bodies of the public stockholders.
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