Germany’s Deutsche Bank is purchasing a 1.67 billion euros ($1.79 billion) aviation loan portfolio from lender NordLB, as announced by both banks on Monday. Deutsche Bank won the bidding process for the loans, outcompeting several domestic and international parties, according to NordLB.
The loans, which are secured by commercial passenger aircraft, are issued to a range of lessors and airlines. The transfer of the loans to Deutsche Bank will commence in late June.
NordLB, which has been looking to exit the aviation loan business, will continue to hold a portfolio valued at 1.1 billion euros.
(With Reuters inputs)
