Deutsche Bank Acquires EUR 1.67 Billion Aircraft Loans from NORD/LB

Deutsche Bank Acquires EUR 1.67 Billion Aircraft Loans from NORD/LB

(IN BRIEF) Deutsche Bank AG has acquired EUR 1.67 billion in aircraft loans from Norddeutsche Landesbank (NORD/LB), part of NORD/LB’s EUR 2.75 billion aircraft financing portfolio. The loans, secured through a competitive bidding process, cover a diverse range of lessors and airlines and are backed by commercial passenger aircraft. This acquisition, managed by Deutsche Bank’s Global Credit Financing & Solutions (GCFS) business, reflects their strategic focus on sectors including renewable energy, infrastructure, transportation, and asset-backed financing. The transaction, subject to antitrust approval, is anticipated to be finalized in the second half of 2024.

(PRESS RELEASE) FRANKFURT, 17-Jun-2024 — /EuropaWire/ — Deutsche Bank AG (XETRA: DBKGn.DB / NYSE: DB) has announced the acquisition of EUR 1.67 billion worth of loans from Norddeutsche Landesbank’s (NORD/LB) EUR 2.75 billion aircraft financing portfolio. The transaction, secured through a competitive bidding process, includes loans to a diverse range of lessors and airlines, all backed by commercial passenger aircraft. NORD/LB’s current aircraft portfolio encompasses approximately 300 financed aircraft and engines.

Deutsche Bank’s Global Credit Financing & Solutions (GCFS) business facilitated the acquisition, leveraging its extensive experience across various lending sectors such as renewable energy finance, infrastructure, transportation finance, and asset-backed financing.

Ross Duncan, Co-Head of the Global Transportation Finance team at Deutsche Bank, highlighted the strategic significance of the deal: “This acquisition aligns with our core competencies and extensive sector expertise. It presents an opportunity to acquire high-quality loans with an attractive return profile.”

The competitive bidding process underscored the robust demand for the loans, affirming the portfolio’s quality. Both parties have agreed not to disclose the purchase price of the transaction.

Completion of the purchase agreement is contingent upon approval from antitrust authorities, with finalization expected in the latter half of 2024.

Media Contact:

Investor Relations:
+49 800 910-8000 (Frankfurt)
db.ir@db.com

Jo Court
Deutsche Bank AG, Media Relations
+44 (0) 7879 272 651
joanne.court@db.com

SOURCE: Deutsche Bank AG