KKR $1.5 billion acquisition of NordLB shipping loans portfolio

Overview:

• Kohlberg Kravis Roberts (KKR) has acquired a $1.5 billion portfolio of shipping loans from NordLB.
• The deal sees KKR Credit and an unnamed sovereign wealth fund set up a shipping portfolio management company to manage the loans and structure them as a securitisation, with KKR Credit, the sovereign wealth fund and NordLB investing in the portfolio.
• NordLB has undertaken the transaction in order to cut its exposure to the shipping industry.

Sam Duke - Editor