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Bank NordLB sells shipping loans for USD 1.5 bln

German shipping bank NordLB will sell a portfolio of shipping loans worth USD 1.5 billion to US-based equity fund KKR Credit along with an unnamed investment fund.

NordLB president and CEO Gunter Dunkel

US-based equity fund KKR Credit along with another unnamed investment fund will acquire loans in more than 100 vessels from Germany's second-largest shipping bank, NordLB.

The shipping portfolio has a combined value of USD 1.5 billion, informs NordLB in a press release on Monday.

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