White & Case Advises HSH Nordbank on Complex Structured Finance Transaction
Global law firm White & Case LLP has advised HSH Nordbank AG (HSH) on a complex structured finance transaction, which is backed by a diversified €3 billion loan portfolio.
Institutional investors have provided a financial guarantee for a significant portion of the portfolio which includes loans for corporate and real estate clients. The loans of the underlying reference portfolio were not transferred and remain on HSH's balance sheet. The parties have agreed to maintain confidentiality regarding the further details of the transaction. Through the transaction which closed on 28 December 2016, HSH has reduced its credit risk and strengthened its regulatory capital.
Established on 2 June 2003, HSH Nordbank AG is the result of the merger between Hamburgische Landesbank and Landesbank Schleswig-Holstein. It is one of the major finance providers in respect of renewable energies and utilities in Europe and occupies a leading position in commercial real estate finance in Germany.
The White & Case team which advised on the transaction was led by partners Dennis Heuer and local partner Daniel Baierlein and included local partner Michael Rützel (all Frankfurt), partners Ingrid York, Stuart Willey (both London), partner Bodo Bender and counsel Alexander Born (both Frankfurt).
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