trending Market Intelligence /marketintelligence/en/news-insights/trending/ARsspAW6myegTglx8JxkeQ2 content esgSubNav
In This List

Report: ORIX, Berenberg to buy shipping loans from RBS

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks

Blog

Anticipate the Unknown A Fundamentals Approach to Detect Early Signs of Private Company Credit Deterioration


Report: ORIX, Berenberg to buy shipping loans from RBS

Japan-based ORIX Corp. agreed to purchase US$290 million worth of shipping loans from Royal Bank of Scotland Group Plc, Reuters reported Jan. 20, citing "sources with direct knowledge of the deal."

RBS will also sell a further $300 million of loans to Joh. Berenberg Gossler & Co. KG, the sources added.

The loans ORIX is buying are primarily of investment grade and were made to Greek borrowers. ORIX has also been in talks with other lenders to the shipping sector, the report added.

RBS had tried to sell the entirety of its Greek shipping business, valued at the time at $3 billion, with ORIX and Berenberg both having been prospective bidders, Reuters noted. It is now in the process of winding down the business.