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	<title>Marine Money Archives &#187; HSH Nordbank</title>
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	<link>http://www.marine-money.com</link>
	<description>The Ship Finance Publication Of Record</description>
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		<title>Banking Crisis? Not an Issue for BW Group or NOL</title>
		<link>http://www.marine-money.com/archive/banking-crisis-not-an-issue-for-bw-group-or-nol</link>
		<comments>http://www.marine-money.com/archive/banking-crisis-not-an-issue-for-bw-group-or-nol#comments</comments>
		<pubDate>Tue, 06 Dec 2011 02:49:22 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Loan]]></category>
		<category><![CDATA[Bank of Tokyo-Mitsubishi UFJ]]></category>
		<category><![CDATA[BW Group]]></category>
		<category><![CDATA[Commonwealth Bank of Australia]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[DNB Bank]]></category>
		<category><![CDATA[Fokus Bank]]></category>
		<category><![CDATA[HSBC]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[KfW IPEX-Bank]]></category>
		<category><![CDATA[Neptune Orient Lines]]></category>
		<category><![CDATA[NOL]]></category>
		<category><![CDATA[Nordea Bank]]></category>
		<category><![CDATA[OCBC]]></category>
		<category><![CDATA[Skandinaviska Eskilda Banken]]></category>
		<category><![CDATA[Swedbank]]></category>
		<category><![CDATA[United Overseas Bank]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11378</guid>
		<description><![CDATA[2012 is broadly expected to be challenging for both shipping lenders and borrowers. As long as the Euro debt crisis persists and continues to worsen, capital will become increasing scarce. Even shipping companies at the top of the pyramid are busy strengthening their balance sheets and making sure that they have adequate funds to meet [...]]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/banking-crisis-not-an-issue-for-bw-group-or-nol/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Scorpio’s Opportunistic Equity Funding</title>
		<link>http://www.marine-money.com/archive/scorpio%e2%80%99s-opportunistic-equity-funding</link>
		<comments>http://www.marine-money.com/archive/scorpio%e2%80%99s-opportunistic-equity-funding#comments</comments>
		<pubDate>Thu, 01 Dec 2011 16:31:08 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[Fearnley Fonds ASA]]></category>
		<category><![CDATA[Harald Serck-Hansen]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[Morgan Stanley]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[Robin Das]]></category>
		<category><![CDATA[Scorpio Tankers Inc.]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11358</guid>
		<description><![CDATA[Utilizing its earlier $500 million existing shelf registration, Scorpio Tankers, Inc. announced yesterday a follow-on offering of 7 million shares, with Morgan Stanley acting as sole book-running manager and Fearnley Fonds ASA as co-manager. The shares closed that night at $6.66 and were priced today at $5.50/share, a discount of 17.4%, raising gross proceeds of $38.5 million. A member of the insider Lolli-Ghetti family was allocated 700 thousand of the shares.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/scorpio%e2%80%99s-opportunistic-equity-funding/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Star Bulk Shifts Lenders</title>
		<link>http://www.marine-money.com/archive/star-bulk-shifts-lenders</link>
		<comments>http://www.marine-money.com/archive/star-bulk-shifts-lenders#comments</comments>
		<pubDate>Thu, 13 Oct 2011 15:40:11 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[Piraeus Bank]]></category>
		<category><![CDATA[Star Bulk Carriers Corp.]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11121</guid>
		<description><![CDATA[Last week, Star Bulk Carriers Corp. announced the re-financing of its two existing loan facilities with Piraeus Bank utilizing the proceeds of a new $64.5 million secured term loan from HSH Nordbank and $5.3 million in cash. The loan has a five year term and bears interest at LIBOR plus a spread. Although little changes in the amount of outstanding debt, the terms of the new loan extend the average life while reducing interest costs. We also suspect that the Greek banks are not having an easy time of it, as well, making the change even more sensible.
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Robin Das Exits</title>
		<link>http://www.marine-money.com/archive/robin-das-exits</link>
		<comments>http://www.marine-money.com/archive/robin-das-exits#comments</comments>
		<pubDate>Thu, 29 Sep 2011 15:16:19 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Christian Nieswandt]]></category>
		<category><![CDATA[Harald Kuznik]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[Robin Das]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11095</guid>
		<description><![CDATA[After years of service, Robin Das, Global Head of Shipping at HSH Nordbank will be leaving the bank. Always thoughtful, this superb banker successfully stepped in for Harald Kuznik and continued to manage the difficult re-positioning of the bank during the recent financial and shipping crises. Moreover, for us he was always a great source of insights into the banking world. He will be missed but we take comfort in the certainty that he will be successful in his future undertakings. Christian Nieswandt will assume the position of Acting Head of the Shipping Business Unit. Good luck Robin and Christian!]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/robin-das-exits/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Banking Outlook – An Insider’s View</title>
		<link>http://www.marine-money.com/archive/banking-outlook-%e2%80%93-an-insider%e2%80%99s-view</link>
		<comments>http://www.marine-money.com/archive/banking-outlook-%e2%80%93-an-insider%e2%80%99s-view#comments</comments>
		<pubDate>Thu, 15 Sep 2011 14:55:51 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[Robin Das]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11064</guid>
		<description><![CDATA[As part of the Jefferies Conference, last week, Robin Das of HSH Nordbank shared his thoughts on ship lending during the keynote address. While none of it was surprising, it was an excellent précis on the state of the industry and for that reason we chose to de-couple it from last week’s conference review.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Chinese Ship Finance &#8211; On Hold?</title>
		<link>http://www.marine-money.com/archive/chinese-ship-finance-on-hold</link>
		<comments>http://www.marine-money.com/archive/chinese-ship-finance-on-hold#comments</comments>
		<pubDate>Fri, 15 Jul 2011 04:50:24 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Agricultural Bank of China]]></category>
		<category><![CDATA[Bank of China]]></category>
		<category><![CDATA[China Construction Bank]]></category>
		<category><![CDATA[China Development Bank]]></category>
		<category><![CDATA[China Ship Fund]]></category>
		<category><![CDATA[Cosco Group]]></category>
		<category><![CDATA[Grand China Logistics]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[ICBC]]></category>
		<category><![CDATA[Maersk Broker]]></category>
		<category><![CDATA[Norton Rose]]></category>
		<category><![CDATA[Sinosure]]></category>
		<category><![CDATA[The Export-Import Bank of China]]></category>
		<category><![CDATA[XRTC]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10727</guid>
		<description><![CDATA[By Nigel Ward, Partner, Norton Rose LLP In 2008/9 the Chinese banks were looked to as the only remaining hope for international ship finance &#8211; the last pool of bank debt that could be harnessed to replace the withdrawing European banks and to satisfy the capital requirements of owners with existing new building orders in [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Marrying the Bankers’ Greatest Nightmare with the Advisors’ Dream – Omega Navigation Files Chapter 11</title>
		<link>http://www.marine-money.com/archive/marrying-the-bankers%e2%80%99-greatest-nightmare-with-the-advisors%e2%80%99-dream-%e2%80%93-omega-navigation-files-chapter-11</link>
		<comments>http://www.marine-money.com/archive/marrying-the-bankers%e2%80%99-greatest-nightmare-with-the-advisors%e2%80%99-dream-%e2%80%93-omega-navigation-files-chapter-11#comments</comments>
		<pubDate>Thu, 14 Jul 2011 15:21:47 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BTMU]]></category>
		<category><![CDATA[Eastwind]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[Inc.]]></category>
		<category><![CDATA[NIBC]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[Omega Management]]></category>
		<category><![CDATA[Omega Navigation Enterprises Inc.]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10499</guid>
		<description><![CDATA[Last Friday, after the markets closed, Omega Navigation Enterprises Inc. announced that it along with certain subsidiaries had filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code. The filing seeks protection for the publicly listed company and all of its 100% owned vessel owning companies. Excluded from the filing is the company’s technical vessel manager, Omega Management, Inc. as well as two subsidiaries which hold part interests in five on the water vessels and two newbuildings under construction.
]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/marrying-the-bankers%e2%80%99-greatest-nightmare-with-the-advisors%e2%80%99-dream-%e2%80%93-omega-navigation-files-chapter-11/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Plop-plop, Fizz-fizz, Oh What a Relief It Is” – TORM Extends</title>
		<link>http://www.marine-money.com/archive/plop-plop-fizz-fizz-oh-what-a-relief-it-is%e2%80%9d-%e2%80%93-torm-extends</link>
		<comments>http://www.marine-money.com/archive/plop-plop-fizz-fizz-oh-what-a-relief-it-is%e2%80%9d-%e2%80%93-torm-extends#comments</comments>
		<pubDate>Thu, 30 Jun 2011 15:01:59 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Danske Bank]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[SEB]]></category>
		<category><![CDATA[Torm]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10469</guid>
		<description><![CDATA[On Wednesday, TORM was able to announce an actual, as opposed to rumored, refinancing of its $900 million revolving credit facility with Danske Bank, BNP Paribas, HSH Nordbank, and SEB which was scheduled to mature in 2013 with a bullet payment of $630 million. Conditioned upon a cash equity raise of $100 million, likely a rights issue, to be completed by December 15th, the banks have agreed to extend the maturity to 2015, when it matures with a bullet payment of $480 million. The difference in the balloon payments of $150 million will be amortized during that two year period. The facility will retain the current covenant package and will include a market value test applicable from 2013 as well as dividend restrictions.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/plop-plop-fizz-fizz-oh-what-a-relief-it-is%e2%80%9d-%e2%80%93-torm-extends/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>An Ode to Magicians</title>
		<link>http://www.marine-money.com/archive/an-ode-to-magicians</link>
		<comments>http://www.marine-money.com/archive/an-ode-to-magicians#comments</comments>
		<pubDate>Thu, 23 Jun 2011 14:52:40 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[BNP]]></category>
		<category><![CDATA[Dahlman Rose]]></category>
		<category><![CDATA[DnB Citi/Watson Farley]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[Jefferies]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10455</guid>
		<description><![CDATA[At showtime, it all looks easy, but the weeks preceding Marine Money Week are a whirlwind. It’s interesting being an insider and a somewhat dispassionate observer. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>HSH Nordbank Shows Commitment in Asia</title>
		<link>http://www.marine-money.com/archive/hsh-nordbank-shows-commitment-in-asia</link>
		<comments>http://www.marine-money.com/archive/hsh-nordbank-shows-commitment-in-asia#comments</comments>
		<pubDate>Thu, 13 Jan 2011 08:55:27 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[HSH Nordbank]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=11254</guid>
		<description><![CDATA[What do DnB NOR, Nordea and HSH Nordbank have in common? A similarity that easily comes to mind would be that all three banks are major ship financiers with a large presence in Singapore. But do you know that not only are their shipping team based in Singapore, they are headed by Singaporean bankers too. [...]]]></description>
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		<slash:comments>0</slash:comments>
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