Nicolas Blanchard appointed new Chief Clients and Products Officer (CCO)
The Supervisory Board of HSH Nordbank has appointed Nicolas Blanchard (50) as a new Management Board member. He takes on the role of Chief Clients and Products Officer with immediate effect.
First successful privatisation of a Landesbank completed
HSH Nordbank AG is today embarking on its future as the first successfully privatised Landesbank in Germany. The commercial bank’s new shareholders, who are independent of each other, are Cerberus Capital Management, J. C. Flowers & Co., GoldenTree Asset Management, Centaurus Capital LP and BAWAG or investment funds launched by these.
HSH Nordbank: Privatisation marks nine-month results
In the third quarter HSH Nordbank continued to focus its energies on the upcoming privatisation while generating a satisfactory Group net result in operations. Thanks to savings on the cost side, a solid business performance and restructuring successes in the ship loan portfolio, the high costs incurred in connection with the privatisation were offset in full. The key capital and liquidity figures remain high.
HSH Nordbank issues € 500 million mortgage Pfandbrief
HSH Nordbank has placed a mortgage Pfandbrief in the amount of € 500 million and with a term of three and a half years. The issue, secured mostly by loans on commercial properties in Germany, pays fixed interest with an annual coupon of 0.25 percent.
HSH shows € -1 million pre-tax result in H1
HSH Nordbank has continued to resolutely forge ahead with its multi-year transformation and reports a satisfactory result for the first half of 2018.
HSH Nordbank finances Allee Center in Leipzig for EQT Real Estate
HSH Nordbank will provide EQT Real Estate with part of the finance to acquire the Allee-Center neighbourhood shopping mall in the Leipzig district of Grünau. The parties agreed not to disclose the size of the transaction. The Allee-Center was built in 1996 and accommodates about 100 retail businesses on a rental space of around 40,000 square metres. There are 944 parking spaces.
HSH Nordbank’s M&A team advised LAPP on acquisition of Volland AG
HSH Nordbank’s M&A team successfully advised LAPP on its acquisition of Switzerland-based Volland AG. Based in Stuttgart, LAPP is one of the world’s leading providers of integrated solutions and branded products in the field of cable and connection technology.
HSH Nordbank places € 500 million mortgage pfandbrief
HSH Nordbank is taking advantage of the favourable market situation by issuing a five-year mortgage pfandbrief in benchmark format. Pricing was 18 basis points above mid-swaps. The order book was with more than € 1 billion well oversubscribed, with an issuance volume of € 500 million and closed within a few hours. Moody’s has issued an “Aa3” rating for the mortgage pfandbrief.
Ireland: HSH finances wind farm and expansion of transformer station
HSH Nordbank is making available to its Irish client Seahound Wind Developments Limited long-term project finance of just under € 40 million to realise the Letteragh wind farm project in the west of the Irish Republic.
HSH prepares for multi-year transformation – extraordinary effects weigh on Q1 result
As well as recording satisfactory operating performance and savings in the first quarter of 2018, HSH Nordbank also incurred the expected heavy burdens. In addition to the previously recognised annual premiums for the bank levy and the deposit guarantee fund, these included considerable costs related to privatisation.