DVB Bank SE (“DVB”), the Frankfurt-based bank which specialises in transport finance, closed the USD358.6 million sale and lease back transaction of a portfolio of maritime containers for China Shipping Container Lines (“CSCL”) and CDB Leasing (“CDBL”).
The portfolio of containers sold comprises 139, 941 units in the age range of 3 to 6 years with an aggregate capacity of approximately 210, 000 TEUs, representing approximately 20% of the containers owned by CSCL as at 31 December 2011. CSCL is of the view that the container disposal would enhance its cash position and optimise its financial structure.
The containers were acquired by CLC Maritime Container Leasing, backed by CDBL, and leased back to CSCL. This transaction marks a significant development of CDBL into the maritime container leasing industry, in addition to its established aircraft and ship leasing business. DVB arranged and partially financed the acquisition with co-lender China Development Bank.
DVB Bank SE, headquartered in Frankfurt/Main, Germany, is the leading specialist in the international Transport Finance business. The Bank offers integrated financing solutions and advisory services in respect of Shipping Finance, Aviation Finance, and Land Transport Finance. DVB is present at all key international financial centres and transport hubs: at its Frankfurt/Main head office, as well as various European locations (Athens, Bergen, Hamburg, London, Oslo, Rotterdam and Zurich), plus offices in the Americas (New York City and Curaçao) and in Asia (Singapore and Tokyo). DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501). www.dvbbank.com