NORD/LB arranges purely US dollar-denominated Floating Rate Assignable Loan for the first time
NORD/LB Norddeutsche Landesbank and HSBC have cooperated on arranging a Floating Rate Assignable Loan (German „Schuldscheindarlehen“) denominated solely in US dollars in the amount of USD 70 million in all for the Neumann Coffee Group, headquartered in Hamburg and the world's leading service provider in the sphere of green coffee. Floating Rate Assignable Loans on US-dollar basis are still very rare, and there were only a very few transactions of this type in 2012.
Along with NORD/LB, the circle of underwriting banks exclusively comprised internationally active institutions. This innovative strategy enabled a rounding off of the customer's medium-term financing requirements.
"This tailor-made corporate financing arrangement enabled us to achieve an innovative solution for the Neumann Coffee Group and optimally combine its medium term capital requirements with the refinancing capabilities of the participating banking institutions", comments Eckhard Forst, member of NORD/LB's Managing Board.
The Neumann Coffee Group is the world's leading service provider in the sphere of green coffee. With 46 companies and 2,250 employees in 28 countries we are present in all important markets and offer a broad range of quality services and products along the green coffee value chain.
With total assets of EUR 225.2 billion (as at 30 September 2012) and around 7,300 employees at the Group level, NORD/LB is northern Germany's leading universal bank. Besides the corporate banking segment, the bank's business activities are focussed on the spheres of energy and infrastructure, ships, aircraft and real estate. Through its operations in Hanover, Hamburg, Schwerin, Magdeburg und Düsseldorf, NORD/LB offers its corporate clientele the entire spectrum of financing options.
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