Nordbank ready to sell shipping loan package
Move follows failed 300m euro attempt late last year
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[HAMBURG] HSH Nordbank AG, the world's largest financier of vessels, is preparing a portfolio of shipping loans for sale after a previous package worth about 300 million euros (S$516 million) failed to attract investors.
"We dropped one transaction at the end of last year, as the portfolio made up of container ships and bulk carriers wasn't ideal with regard to the size and age of the bulk carriers," Wolfgang Topp, who heads the Hamburg-based bank's restructuring unit, said in an interview.
"Now we're wrapping up a new portfolio, which we expect to sell in the market by the end of the first quarter," he said.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
