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German bank secures large refinancing of shipping loans

Investor interest in a half-billion euro ”ship Pfandbrief” issued by HCOB and secured by shipping mortgages was so strong that the issue was heavily oversubscribed.
With the issuance of a special ship mortgage, the shipping bank HCOB has secured refinancing for half a billion euros on the capital market. | Photo: Christian Charisius/AP/Ritzau Scanpix
With the issuance of a special ship mortgage, the shipping bank HCOB has secured refinancing for half a billion euros on the capital market. | Photo: Christian Charisius/AP/Ritzau Scanpix
by JENS THOMSEN

The German shipping bank Hamburg Commercial Bank (HCOB) has secured refinancing for EUR 500m by issuing a so-called ship mortgage deed - or ”Pfandbrief”.

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