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.
Asia increasingly important for European shipping sector
Asia continues to gain in importance for the European shipping sector. This is the result of a recent survey conducted by HSH Nordbank, which polled shipping clients primarily from Europe, East and Southeast Asia. According to the survey, it is primarily Asian providers of capital that are increasing their exposure to ship finance. One-third of respondents are already collaborating with Asian banks in financing newbuilds or purchasing second-hand ships. Furthermore, around 16 percent obtain capital primarily from strategic investors in Asia. In addition, 80 percent of those surveyed expect Asian providers of capital to penetrate ship finance - which has traditionally been dominated by European banks - to an even greater extent in future.
HSH Nordbank increases US dollar funding – Transaction worth more than USD 360 million
HSH Nordbank has successfully completed a further large US dollar funding transaction. For the “CASTELLUM ABF” transaction amounting to USD 360 million HSH Nordbank again made use of its asset-based funding platform. The platform was established in 2013 in order to gain efficient access to the foreign currency that is so important for international business. The funding deal set up jointly with the Royal Bank of Scotland runs for 3 1/4 years and is secured by commercial real estate loans from the Core Bank and the internal Restructuring Unit.
Edwin Wartenweiler to leave the Management Board
The CRO of HSH Nordbank AG, Edwin Wartenweiler (56), will not be extending his current contract, which runs until 31 May 2015. Following three successful years on HSH Nordbank’s Management Board, Mr. Wartenweiler is leaving his position at his own request in order to take up new career challenges. The Supervisory Board respects Mr. Wartenweiler’s decision, which it acknowledges with regret.
HSH Nordbank places EUR 500 million benchmark ship covered bond
HSH Nordbank has placed a large-volume ship covered bond for the first time since 2008. The order book of the benchmark ship covered bond with a face value of EUR 500 million was substantially oversubscribed within a short period of time.
HSH Nordbank posts pre-tax profit of € 460 million
In the first nine months of 2014 HSH Nordbank posted a Group net income well in excess of the pre-year figure. The performance in the core areas of business and the substantial reduction of legacy assets underscore the progress made by the Bank in implementing its business model. New business was increased as planned. In addition to this, income from sales of securities and equity holdings as well as a marked decrease in costs had a favourable impact on the result. The principal positive effect came from the capital protection clause, which - following heavy charges resulting from guarantee premi-ums in the previous years - led, as expected, to a partial reversal of the guarantee premiums with an effect on income in the first nine months of 2014. Net income before taxes increased to € 460 million as at 30 September 2014. This equates to an increase of € 555 million compared to the pre-year nine-month result (pre-year period: € -95 million). Net income after taxes improved to € 333 million (pre-year period: € -66 million).