Linklaters advises HSH Nordbank on innovative asset-based lending structure
Linklaters has advised HSH Nordbank AG on an innovative asset-based lending structure. The reference portfolio consists of ship loan receivables of HSH Nordbank.
With this securitisation transaction, HSH Nordbank optimises its own refinancing by selling and transferring loan receivables under the ship financing to a newly established special purpose vehicle. The special purpose vehicle refinances itself by taking out two Schuldschein loans. The senior 700 million U.S. dollar loan provides for HSH Nordbank’s financing. HSH Nordbank itself grants a subordinated loan.