February 24, 2012 [HSH Noordbank] - HSH Nordbank AG successfully completed a promissory note transaction end of last week.
As joint lead arranger it placed a promissory note (German Schuldschein) for Oiltanking Finance B.V., Amsterdam, in a maturity band of three to ten years with a total volume of EUR 245 million. Thanks to the strong demand the volume was significantly increased, from the original EUR 75 million to EUR 245 million.
The promissory note was placed with a wide circle of institutional investors in and outside Germany. The syndicate was particularly successful in generating high demand among savings banks and insurance companies. Pricing was at the lower end of the subscription range.
“The success of this placement confirms HSH Nordbank’s expertise in arranging and placing customised funding solutions for our medium-sized clients,” said Torsten Temp, HSH Nordbank’s Management Board member responsible for corporate and private clients.
The promissory note for Oiltanking Finance B.V., Amsterdam, is guaranteed by Oiltanking GmbH, Hamburg, which belongs to Hamburg’s Marquard & Bahls Group.
