HSH Nordbank generates pre-tax profit of € 222 million in the first half
HSH Nordbank again achieved progress in terms of operating profit in the first half of 2015, having resolutely reduced its costs further and having reported, with a pre-tax profit of € 222 (432) million, a result well into the black despite significantly less reversals with effect on income due to the debt waiver of its main shareholders.
HSH Nordbank finances
HSH Nordbank is making available approximately EUR 82 million for the pro-rated refinancing of the acquisition and comprehensive refurbishment of a shopping centre in Wiesbaden to Orion European Real Estate Fund IV advised by Orion Capital Managers. The shopping centre was acquired in December 2014 without third party financing.
Ulrik Lackschewitz to be new Chief Risk Officer at HSH Nordbank
The Supervisory Board of HSH Nordbank appointed Ulrik Lackschewitz (46) as the Bank’s Chief Risk Officer. He will take over the role of CRO on 1 October 2015 from Chief Financial Officer Stefan Ermisch (49), who has been in temporary charge of the Bank’s Risk Office since June 2015 following the departure of Edwin Wartenweiler.
HSH Nordbank to finance retail portfolio for Partners Group
HSH Nordbank will provide vehicles majority-owned by Partners Group with pro-rated finance amounting to EUR 62 million for the purchase of seven retail properties.
HSH Nordbank continues positive trend - pre-tax profit of € 234 million in Q1
HSH Nordbank has had a successful start to the current financial year, generating a pre-tax profit of € 234 million in the first quarter of 2015 (pre-year period: € 355 million). The Bank thereby continued the positive trend following the earnings turnaround in the previous year and recorded a substantial increase in operating income in its Real Estate and Energy & Infrastructure divisions and in ship finance.
HSH Nordbank finances Barthonia Forum acquisition
HSH will provide a senior financing facility totalling € 91 million to a joint venture between European Property Investors Special Opportunities 3 L.P. (EPISO 3), a pan European private equity real estate fund advised by Tristan Capital Partners and FREO Group for the acquisition of Barthonia Forum in Cologne’s Ehrenfeld district.
HSH Nordbank remains premium partner of Kieler Woche
In 2015, HSH Nordbank will once again – for the twelfth consecutive year - take its place on the starting line as a premium partner of Kieler Woche.
HSH Nordbank strengthens focus on Asia in international shipping business
HSH Nordbank is shifting its focus in the international shipping business more closely to the Asian market, collaborating with local players in the process. To this end, HSH Nordbank intends to cooperate with the Export-Import Bank of Korea (Korea Eximbank) and Busan, Korea's second-largest city after the capital Seoul. An agreement was signed in Hamburg this afternoon.
HSH Nordbank and Hamburg shipping companies endow Chair for maritime research at the University of Hamburg
HSH Nordbank is endowing the “Stiftung Maritime Forschung” (“Foundation for Maritime Research”), the research projects of which will focus on the areas of business administration, technology and market analysis. The Foundation is making use of donations from the Hamburg shipping companies Ahrenkiel Steamship GmbH & Co. KG, E. R. Capital Holding GmbH & Cie. KG, Claus-Peter Offen GmbH & Co. KG, Peter Döhle Schiffahrts-KG, Rickmers Holding GmbH & Co. KG and the ship owners Dr. Bernd Kortüm, and Bernhard Schulte as well as HSH Nordbank to first establish a junior professorship in “Maritime Management” at the Faculty of Business Administration at the University of Hamburg. In setting up this Foundation HSH Nordbank demonstrates a sense of responsibility vis-à-vis the shipping sector, which is hugely important for northern Germany, and at the same time strengthens Hamburg as a maritime location. The objective of the Foundation is to support the maritime sector by means of academic research.
HSH Nordbank continues collaboration with Navios Group in second Nautilus transaction
HSH Nordbank is easing the pressure on its balance sheet with a further Nautilus transaction, thereby continuing to resolutely wind down its risk-prone legacy assets. To this end, HSH Nordbank and the Navios Group (Navios) have signed a binding letter of intent for the acquisition of 14 ships at serious risk of insolvency. In the second transaction with Navios since 2013 a loan in a nine-digit USD amount will be financed by a new banking syndicate. Moreover, Navios will contribute fresh capital in an eight-digit amount to the financing. At the same time, HSH Nordbank will remain involved in the future financing construct in order to benefit from a potential recovery in the shipping markets. The transaction is expected to close in the second quarter of 2015.
HSH Nordbank finances Frankfurt development project for Tishman Speyer
HSH Nordbank is providing development financing amounting to EUR 228 million to the Tishman Speyer Group for the development of a high-rise building at the heart of Frankfurt's financial district. The project is being developed for the latest Tishman Speyer Value-add real estate fund in Europe.
HSH Nordbank posts profit in 2014 – strong new business and cost discipline
HSH Nordbank returned to profit territory in 2014 as projected, it passed the stress test of the European Central Bank with solid capital ratios and is now, following this earnings turnaround, aiming for structural changes.
HSH Nordbank participated in the refinancing of Alpha Trains
The HSH Nordbank participated as MLA in the senior bank facilities in the Alpha Trains refinancing.
HSH Nordbank to realise further Nautilus deal
HSH Nordbank is making progress in winding down its legacy assets while contributing to a consolidation of the shipping market. In what is the fourth Nautilus deal, the Hamburg based shipping company Ahrenkiel Steamship (“Ahrenkiel”) acquired eight container ships from HSH Nordbank’s credit portfolio. The first four ships have already been handed over to Ahrenkiel.
HSH Nordbank finances second wind farm in Finland
HSH Nordbank has provided project finance for the second wind farm in Finland. The Bank made long-term finance of some EUR 45.2 million available to the second part of the Ylivieska Pajukoski project, consisting of seven Vestas V126 turbines with a hub height of 137 meters and a nominal output of 3.3 MW each.