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Deutsche Bank Sells $1bn Of Shipping Loans To Varde, Oak Hill

Oak Hill Advisors and Värde Partners announced today they entered into an agreement to acquire a US$1 billion portfolio of shipping loans from Deutsche Bank. The transaction is expected to close in the third quarter of 2018 pending regulatory approvals. This represents the second sale of shipping loan portfolios from European banks that Värde and OHA have acquired together. “We view this investment as part of our long-term commitment to provide alternative capital to the shipping industry as traditional participants reduce their exposure and change tack following a challenging period for the sector as a whole,” said Stephen Seymour, Managing Director at...