Archive for the ‘Banking’ Category

US authorities settle sanctions and money laundering charges with two foreign banks

On 10 December 2012, the US Office of Foreign Assets Control (OFAC) announced a USD 132 million settlement with Standard Chartered Bank (SCB) for apparent violations of US sanctions. The following day, OFAC announced a USD 375 million settlement with HSBC Holdings (HSBC), also for apparent violations...
December 13th, 2012 | Banking, Legal | Read More

HSH Nordbank finances another large solar farm in France

Lars Quandel HAMBURG/KIEL For the sixth time this year HSH Nordbank has successfully provided finance for a solar farm in France: the Pompogne portfolio consists of four sub-farms in the region of Aquitaine, near Bordeaux and the Atlantic coast, and was arranged and structured together with BayernLB....
December 13th, 2012 | Energy, Finance | Read More

MOL Acquires Top Rating for SMBC Environmental Assessment Loan

MOL Acquires Top Rating for SMBC Environmental Assessment Loan
Hybrid car carrier Emerald Ace under way – Launched in June 2012. The solar panel capacity is 160kW, making it the largest such system installed on a ship. TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that the company acquired the top rating for Sumitomo Mitsui...
December 12th, 2012 | Environment, News, Shipfinance | Read More

License Fee for OPTI

EXMAR has signed an agreement with the IFC (the WorldBank Group) and China EXPORT-IMPORT Bank for a financing facility of up to USD 280 million for its liquefaction barge to be built at Wison Heavy Industries and chartered to Pacific Rubiales Energy (TSX:PRE). EXMAR has been co-developing with PRE a...
December 5th, 2012 | Shipfinance | Read More

HSH Nordbank refinances for AAE large fleet of railway carriages

HAMBURG/KIEL HSH Nordbank is providing AAE Ahaus Alstätter Eisenbahn AG, a long standing client, with a major part of a refinancing. With these funds the Swiss company operates a fleet of 4, 830 freight carriages, which serve as the principal collateral for the financiers. In total, the transaction...
December 4th, 2012 | Finance, Logistics | Read More

Rickmers Group and Oaktree form strategic partnership for investments in newbuild container vessels

Hamburg, 3 December 2012 – Funds advised by Oaktree Capital Management, LP and the global shipping major Rickmers Group are joining forces to invest in eight plus eight eco designed newbuild container vessels. Oaktree Capital Management LP is a leading global investment management firm focused on alternative...
December 3rd, 2012 | Shipfinance, Shipmanagement, Trade and Commerce | Read More

HSH Nordbank refinances Newcastle Airport

HSH Nordbank closes second European airport finance deal within four weeks HAMBURG/KIEL HSH Nordbank is acting as one of the mandated lead arranger to pro-vide Newcastle Airport with approximately EUR 62 million to refinance existing bank liabili-ties. Ahead of this HSH Nordbank supported the airport’s...
November 26th, 2012 | Aviation, Finance | Read More

DVB Group: Sound operating performance during the first nine months of 2012 – Total income up 6.2%, to €262.7 million

Wolfgang F. Driese Consolidated net income before IAS 39 and taxes rose to €125.6 million – a remarkable 7.8% year-on-year increase. Once again, the volatile net result from financial instruments in accordance with IAS 39 weighed on income before taxes which – as a result – declined...
November 14th, 2012 | Finance | Read More

HSH Nordbank successfully places Schuldschein for HGV

Amount placed EUR 376 million Amount announced oversubscribed due to strong demand HSH Nordbank sole arranger HAMBURG/KIEL –HSH Nordbank has successfully carried out a Schuldschein (promissory note) transaction for HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmana-gement...
November 9th, 2012 | Finance | Read More

New HSH Nordbank solar project in France

 Long-term finance for 12 MWp solar park in Gironde region. HAMBURG/KIEL – This year HSH Nordbank has once again successfully obtained an order to finance renewable energy projects in France: The Bank has assumed the long-term fi-nancing of the “Solarpark de Béguey” with an output...
November 8th, 2012 | Energy, Finance | Read More

HSH Nordbank and UniCredit finance port operator in Rostock

HSH Nordbank and UniCredit finance port operator in Rostock
Dr. Marcus Kleiner HSH Nordbank and UniCredit are making available EUR 50 million as Senior Debt Facilities to SHRU Holding GmbH & Co. KG, the shareholder of Seehafen Rostock Umschlagsgesellschaft mbH. SHRU Holding, which forms part of the Euroports Group, is the leading company for cargo handling,...
November 7th, 2012 | Finance, News, Ports & Terminals | Read More

HSH Nordbank updates loan loss provision plan

Higher loan loss provisions required for legacy loans in the ship-ping business and increasing default rates in the coming years Bank’s Tier 1 capital ratio still above 9 percent Up to EUR 1.3 billion might be drawn down from the second loss guarantee between 2019 and 2025 Charges to be paid...
November 6th, 2012 | Shipfinance | Read More

CSR as Financial Advantage, or…

CSR as Financial Advantage, or…
  Karianne Tieleman at the podium delivering her speech …Do lenders (or investors) take CSR in consideration when evaluating a potential shipping transaction? Whilst the Recap of Capital Link’s successful 2nd Annual Shipping & Offshore CSR Forum: “CSR: Luxury or Necessity”...
November 2nd, 2012 | Conferences, Seminars, Forums, Corporate Social Responsibility, Markets, Shipfinance | Read More

Marine Money Athens 2012 – A twist in the tale

The Marine Money Greek conference was held in Athens on 17th October. With over 300 people in the audience, chatter and laughter at the coffee breaks and a wonderful closing party for 400 at a football stadium in the port of Piraeus, it was as if there was no crisis in shipping, let alone in Greece....
November 1st, 2012 | Shipfinance | Read More

Cross-Border Insolvency Update – A Breakthrough for Creditor Rights: Dismissal of a Chapter 15 Case

Cross-Border Insolvency Update – A Breakthrough for Creditor Rights: Dismissal of a Chapter 15 Case  Eaton & Van Winkle LLP recently achieved a major breakthrough for the protection of creditor rights in connection with cross-border insolvency proceedings. (For ease of reference, our February...
October 24th, 2012 | Banking, Legal | Read More

HSH Nordbank finances another solar farm in France

“Avon-les-Roches” with a total capacity of 10. 8 MWp HAMBURG/KIEL After recently providing funding for part of the largest solar farm in Europe, in Toul, HSH Nordbank is now financing a further major project in the region, “Avon-les-Roches”. This solar farm, which was developed by the utility...
October 24th, 2012 | Energy, Finance | Read More

HSH Nordbaank CEO, Dr. Paul Lerbinge terminate his activities with the bank

  Dr. Paul Lerbinger HAMBURG/KIEL – The Chief Executive Officer of HSH Nordbank AG, Dr. Paul Lerbinger, has reached an agreement with Hilmar Kopper, Chairman of the Supervisory Board, whereby he will terminate his activities for the Bank at the end of October 2012. The approval required is...
October 17th, 2012 | Banking, News | Read More

Matthias Wittenburg appointed new Management Board member in charge of Products and Capital Markets

Matthias Wittenburg  The HSH Supervisory Board today appointed Matthias Wittenburg (44) for three years to the Bank’s Management Board responsible for Products and Capital Mar-kets. Mr. Wittenburg will take up his new position on 1 January 2013. Torsten Temp, Management Board member responsible...
October 12th, 2012 | Shipfinance | Read More

HSH finances Europe’s largest solar park

HSH finances Europe’s largest solar park
Lars Quandel • 24 MW plants in Toul already supplying electricity HAMBURG/KIEL HSH has provided the finance for part of Europe’s currently largest solar park in the French region of Meurthe-et-Moselle. The sponsor is company Sonnedix, which has acquired the project “Toul 3” with...
September 25th, 2012 | Banking, Energy, Environment, News | Read More

Germany remains Europe’s number one wind market

Germany remains Europe’s number one wind market HSH Nordbank study examines domestic and international sector trends Offshore expansion targets too optimistic Continued stable growth in Europe HAMBURG/KIEL Wind energy recorded global growth of 40 gigawatts in the past year alone – meaning...
September 15th, 2012 | Banking, Energy | Read More

Discussion about the Greek crisis and its possible resolutions

Discussion about the Greek crisis and its possible resolutions
On 11 September 2012 a discussion took place at the London School of Economics about the Greek crisis. The first part of the discussion focused on (a) what should be the long-term “vision” for Greek economy and society, and (b) what obstacles are preventing the evolution towards that vision and what...
September 14th, 2012 | Banking, Conferences, Seminars, Forums, Politics and Government | Read More

Greek shipping: a lot yet has to be done to safeguard its top position

Greek shipping: a lot yet has to be done to safeguard its top position
John Faraclas’ latest interview and commentary last Friday the 7th of September to Lilian Margaritis and Vassilis Tsekouras of SBC TV on the entire Greek shipping industry’s issues: ships – both ocean going and coastal ones including ferries, shipping and stock markets, maritime tourism, ports...
September 8th, 2012 | Environment, HR, Markets, News, Politics and Government, Ports & Terminals, Shipbuilding and Shipyards, Shipfinance | Read More

Globe Wireless Announces CrewCash and ShipMoney

Globe Wireless Announces CrewCash and ShipMoney
crew cash card Palm Bay, Florida, USA (5th Sep. 2012): Globe Wireless announced today an exclusive worldwide sales and marketing relationship with CrewCash, LLC (CrewCash), a payments company offering comprehensive prepaid solutions to the commercial maritime industry.CrewCash and ShipMoney is a new...
September 6th, 2012 | Banking, HR, Story of the Month | Read More

HSH Nordbank’s first-half results strained by worsening shipping crisis

Group net income of EUR 70 million as of the end of June Progress made in the Core Bank’s client business reflected in substantial growth in new business. Heavy strain exerted by further deterioration in shipping, substantial increase in loan-loss provisions No swift improvement expected in...
September 1st, 2012 | Finance, Shipfinance | Read More

DVB Bank SE placed second €500 million senior unsecured benchmark issue in 2012

Wolfang F. Driese DVB tapped the financial market with a five-year €500 million transaction. This was the Bank’s second euro-denominated senior unsecured benchmark issue in 2012, following its inaugural three-year €500 million benchmark transaction in May. Wolfgang F. Driese, CEO and Chairman of...
August 24th, 2012 | Banking | Read More