ShippingWatch

This is how NordLB plans to get rid of non-performing shipping loans

NordLB's new deal with equity fund KKR regarding a platform for non-performing shipping loans is a new way to get rid of the bad loans weighing down the industry. In an interview with ShippingWatch, Global Head of Ship and Aircraft, Oliver Faak, explains why NordLB is using this model.

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs