Deutsche Sells Shipping Loan Portfolio
Germany’s Deutsche Bank has agreed the sale of a USD 1 billion portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Värde Partners. The bank said that the transaction is expected to close in early Q3 2018, subject to relevant regulatory approvals. Deutsche Bank informed that it remains committed to the shipping business. “Following this disposal and other derisking strategies we have implemented, the bank will be left with a performi