HSH Nordbank increases US dollar funding – Transaction worth more than USD 360 million

Banking, Finance, Shipfinance — By on February 20, 2015 at 9:28 AM
Mark Busmann

Mark Busmann


  • Commercial real estate loans as collateral
  • Third refinancing using asset-based funding platform

HAMBURG/KIEL 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.

“We are increasingly broadening our base also with regard to our funding. In addition to issuing covered bonds, the asset-based funding platform enables us to execute funding transactions collateralised by loans from various asset classes, ” said Mark Bussmann, Head of Strategic Treasury at HSH Nordbank.

The “CASTELLUM ABF” funding deal is the third transaction based on the platform. As early as December 2013 the Bank had used this as part of the “OCEAN FUNDING” transaction amounting to USD 700 million, which is collateralised by a portfolio of ship loans. This was followed in November 2014 by the “STRATUS ABF” transaction worth USD 400 million, secured by aircraft loans.

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