HSH Nordbank closes second ship loan securitisation

European, American and Asian institutional investors purchased the credit-linked notes, which consist of an underlying portfolio of 72 loans mainly used for financing container ships, tankers and dry-bulk carriers, the bank said.

HSH Nordbank has now executed ship loan securitisations totalling around $1.6 billion, including the ‘Ocean Star 2004’ securitisation. But this latest deal was the first the bank had conducted since Germany abolished state guarantees to landesbanken in July this year

To continue reading...