Personnel changes on the Supervisory Board of HSH Nordbank
During their extraordinary general meeting today, the shareholders of HSH Nordbank appointed Dr. Philipp Nimmermann (48) to the Bank’s Supervisory Board. He has been State Secretary in the Schleswig-Holstein Ministry of Finance since 20 October 2014. He takes over this office from his predecessor in the Kiel-based ministry, Mr Thomas Losse-Müller, who has resigned from the Supervisory Board due to his appointment as head of the Schleswig-Holstein state chancellery.
HSH Nordbank refinancing USD 400 million
HSH Nordbank is refinancing USD 400 million, thus strengthening its USD-based lending business.
HSH Nordbank has passed the Europe-wide stress test
HSH Nordbank has passed the joint stress test conducted by the European Central Bank (ECB) and the European Banking Authority (EBA) for system-relevant banks in the euro zone thanks to its solid capital base. In the balance sheet check, the Asset Quality Review (AQR), which formed the basis for the subsequent stress test, the Bank showed strong results. HSH Nordbank's Core Equity Tier 1 capital ratio (CET1) in the AQR of 10.0 percent, plus the 2.3 percent buffer from the capital protection clause, comfortably exceeds the required minimum ratio of 8.0 percent. In the overall stress test result, which based on the AQR assumes a hypothetical extreme scenario in the years 2014-2016, HSH Nordbank's CET1 comes to 6.1 percent. Here the minimum ratio was 5.5 percent. The replenishment of the guarantee from EUR 7 to 10 billion by the federal states of Hamburg and Schleswig-Holstein in summer 2013 made a substantial contribution to this.
Budapest Airport: HSH Nordbank refinancing EUR 100 million
HSH Nordbank is participating in the refinancing of Ferenc Liszt International Airport in Budapest.for EUR 100 million. HSH Nordbank is thus taking on a significant share of the transaction involving a total of around EUR 1.35 billion as part of a syndicate of 14 banks. The refinancing took place in close collaboration with the shareholders led by AviAlliance GmbH and the airport's management. Both local and international banks as well as mezzanine lenders took part in the refinancing. The expertise and experience of HSH Nordbank in European infrastructure and airport finance proved decisive in the structuring of the transaction. HSH Nordbank is a long-standing funding partner of Budapest Airport and acted as one of the main partners providing finance in the transaction.
Pre-tax profit for the first half rose to € 432 million – forecast reaffirmed
HSH Nordbank maintained the positive trend of the first quarter, reporting a solid profit as well as strong capital ratios at the half-year mark. This encouraging performance is based to a major extent on rising income from new business with clients on steady margins, decreasing administrative expenses as well as the expected considerably lower loan loss provisioning than in the previous year. Against the backdrop of this good performance in its operating business, HSH Nordbank reaffirmed its forecast and still projects a profit before and after taxes for the year as a whole.
HSH Nordbank finances two solar park portfolios in the south of France
HSH Nordbank is providing finance to its long-standing client, GP JOULE Group of Reussenkröge, for the two solar park portfolios Aquitaine and Biscaya in the south of France.
Expert Market Survey: Shipping industry takes an optimistic view of the future
Confidence among shipping companies in the industry continues to grow – in 2014 a clear majority of companies expect increased turnover and more than 40 per cent expect higher profits in comparison to the previous year.
HSH Nordbank integrates its M&A-advisory business
The integration of the former subsidiary HSH Corporate Finance GmbH into HSH Nordbank is completed. The required entries in the Commercial Register were carried out at the beginning of July. With the integration in the newly created business unit Corporate Finance, HSH Nordbank does not only strengthen the cooperation between M&A-advisory and its other market units but also enhances the interaction between its various product experts. The competencies and service portfolio of HSH Corporate Finance GmbH, which was established in 2002, will be maintained.
HSH Nordbank finances EuroCore office building in Munich
HSH Nordbank is providing a Maple Knoll Capital and a group of investors with portfolio finance of EUR 90 million for an office building in Munich's Allach district. The 60,000 sqm in office space is fully let.
HSH Nordbank starts fiscal 2014 with a good first quarter
As expected, HSH Nordbank started into fiscal 2014 with a good first quarter, underpinned by operating successes in the Core Bank, progressing organisational improvements and reduced loan loss provisioning expense.
HSH Nordbank finances two wind farms in northern France
HSH Nordbank is providing finance for two wind farms with a nominal total output of 26 megawatts (MW) in the Picardy region (Saint Riquier 3 with 14 MW and Saint Riquier 4 with 12 MW) for the Impax Asset Management Group. The long-term project finance amounts to a good EUR 31 million, with refinancing done via the KfW 270 Renew-able Energies programme.
HSH Nordbank and KfW IPEX-Bank sell their shares in Railpool
HSH Nordbank AG and KfW IPEX-Bank GmbH have sold their shares in Railpool GmbH and Railpool Holding GmbH & Co. KG (together Railpool) to funds managed by Oaktree Capital Management, today. The purchase price was not disclosed.
New HSH Nordbank Supervisory Board to be elected
The Nominating Committee of HSH Nordbank has proposed the shareholder representatives for the Supervisory Board to be newly constituted to the Bank’s annual general meeting. Apart from Dr. Thomas Mirow as Chairman of the Supervisory Board, Messrs. Stefan Jütte, Dr. Rainer Klemmt-Nissen, Thomas Losse-Müller and Dr. David Morgan are to be proposed to the annual general meeting for re-election.
Stefan Rensinghoff heads Corporate Finance division
On 1 April Stefan Rensinghoff took charge of the Corporate Finance division. Most recently he worked as an independent management consultant advising companies on questions relating to finance and was a member of the Interministerial Committee for Export Guarantees. Prior to that Mr. Rensinghoff was the Management Board member responsible for corporate client business at the Austrian company Investkredit AG and was division Head in charge of structured finance at DZ Bank.
HSH Nordbank providing finance for GAGFAH GROUP real estate portfolio
HSH Nordbank has provided the GAGFAH GROUP with finance of EUR 176 million for a portfolio comprising more than 4,400 residential as well as 20 commercial units with living and useable floor space totalling almost 280,000 square metres. Some of the properties are held for sale in the short to medium term. About 85 percent of the residential units are located in the district town of Heidenheim (Baden-Württemberg) and its surroundings.