Deutsche Bank Sells $1 Billion Ship Loan Portfolio

By Arno Schuetze FRANKFURT, June 19 (Reuters) - Deutsche Bank is selling a $1 billion portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Varde Partners, it said on Tuesday. Reuters reported last week that the sale of the portfolio was imminent, as the bank draws a line under sour investments in the sector and starts a fresh push … [Read more...]

Deutsche Bank Said to Offload $1 Billion Ship Loan Portfolio

By Arno Schuetze and Jonathan Saul FRANKFURT/LONDON, June 14 (Reuters) - Deutsche Bank has found a buyer for the bulk of its bad ship loans as it seeks to draw a line under sour investments in the sector and to start a fresh push in transport lending, people close to the matter said. Germany's flagship lender has agreed to sell a non-performing ship loan portfolio with a … [Read more...]

State Owners Sell Germany’s HSH Nordbank, Once the World’s Largest Shipping Bank, to Buyout Groups

By Arno Schuetze and Jan Schwartz HAMBURG, Feb 28 (Reuters) - A consortium of buyout groups will pay around a billion euros for Germany's HSH Nordbank , once the world's largest ship financier, as it emerges from crippling writedowns and state bailouts triggered by the deepest sector slump on record. The bank's regional government owners said on Wednesday they had … [Read more...]

German Banks Offload “Toxic” Shipping Debt

by Jonathan Saul, Arno Schuetze (Reuters) Top national lenders Deutsche Bank and Commerzbank are stepping up efforts to offload distressed shipping loans, finance sources said, as the German banking system grapples with $100 billion in toxic debt from the sector.   While the shipping sector is showing signs of recovery after a near-decade long downturn, it is … [Read more...]

Got Billions? Credit Suisse Will Make You A Shipping Magnate

by Jonathan Saul (Reuters) The leap in assets at Credit Suisse’s private bank to a record high this year has been aided by a key plank of the bank’s new strategy: lending money to the world’s ultra-wealthy. Switzerland’s second-biggest bank is trying to lure more rich customers by helping them fund their businesses and lifestyles, with shipping, aviation and real estate loans … [Read more...]