Should one just say goodbye? Or should one hang in there and believe that there is still some hope left?
This is the question that NordLB asked itself about a new model, or platform, that the major German bank launched recently for its shipping loans. The platform is a partnership with the big US-based equity fund KKR (Kohlberg Kravis Roberts) which also made purchases in the shipping portfolio from competitor Commerzbank. Furthermore, a third investor is on board although the identity of which is unknown. NordLB will sell a portfolio of shipping loans worth a total of USD 1.5 billion to KKR and the unknown investor.
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