Hamburg Commercial Bank AG
HSH Nordbank AG: DISPOSAL OF MARKET PORTFOLIO BY HSH NORDBANK
DGAP-News: HSH Nordbank AG / Key word(s): Miscellaneous DISPOSAL OF MARKET PORTFOLIO BY HSH NORDBANK In accordance with the recent decision by the European Commission dated 2 May 2016 with regard to HSH Nordbank AG (“HSH Nordbank”) (Case SA.29338), HSH Nordbank plans to reduce its exposure to non-performing loans. HSH Nordbank intends to sell a portfolio of mainly non-performing loans with a nominal volume of circa EUR 3.2 billion in an open, transparent and non-discriminatory sales process until mid-2017 to investors, of which disposals of circa EUR 1.6 billion are envisaged in 2016. For this purpose, HSH Nordbank has defined an eligible loan portfolio (the “Market Portfolio”), mainly consisting of non-performing loans and primarily backed by real estate, aviation, shipping and energy assets. HSH Nordbank has mandated UBS Deutschland AG (“UBS”) to act as its exclusive financial advisor in connection with the disposal process. Written expressions of interest in English language should be electronically submitted via Email by 7TH OCTOBER 2016, 12:00 noon CET exclusively to the addressees stated below. The expression of interest must include (i) the name and identity of the interested party and, in the event that such party is controlled by or associated with a larger entity or group, also the name and identity of the ultimate owner, (ii) relevant contact details as well as (iii) contact details of mandated advisors, if any, and will be considered only if a proper power of representation is submitted electronically. After receipt of the expressions of interest in written form, further information regarding the sale process and the Market Portfolio in the form of an information memorandum will be provided by UBS, subject to the execution of a non-disclosure agreement. HSH Nordbank and UBS explicitly reserve the right to restrict the number of parties invited to participate in the sales process. In doing so, HSH Nordbank will assess the expressions of interest based on the interested parties’: 1. Track record in the acquisition of (non-performing) loan portfolios from the relevant asset classes; In addition, HSH Nordbank and UBS reserve the right to extend the deadline for submission of the FOR FURTHER QUESTIONS, PLEASE CONTACT: Holger Krause Sebastian Wohlgschaft
2016-09-30 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | HSH Nordbank AG | |
Gerhart-Hauptmann-Platz 50 | ||
20095 Hamburg | ||
Germany | ||
Phone: | +49 (0)40 33 33-0 | |
Fax: | +49 (0)40 33 33-340 01 | |
E-mail: | info@hsh-nordbank.com | |
Internet: | www.hsh-nordbank.com | |
ISIN: | DE000HSH2H15, DE000HSH2H23 | |
WKN: | HSH2H1, HSH2H2 | |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart | |
ISIN-Liste abrufbar unter: http://www.hsh-nordbank.de/media/pdf/investorrelations/funding/anleihe/MarktSegment.pdf |
End of News | DGAP News Service |