Global law firm Reed Smith says its work on Deutsche Bank's sale of $1bn of shipping loans has cemented its position in vessel finance.
The company worked with the German bank on its disposal to Oak Hill and Varde last month.
The team was led by London-based asset finance partner Richard Hakes, who was assisted by fellow partners Simon Hugo in London, Volker Kammel and Simon Grieser in Frankfurt, and Tilman Siebert and Thomas Gierath in Munich.
“This was a pivotal transaction for our client Deutsche Bank and we look forward to continuing to partner with the bank on its business imperatives," said Panos Katsambas, Reed Smith’s London relationship partner for DB.
"This has cemented our position as the leading firm for asset-based portfolios and underlines how our asset finance and structured finance teams continue to work on some of the biggest and most complex deals in the market."
Hakes added: “It was great to work with Deutsche Bank on this strategically important transaction for them, and the competitive process demonstrates a healthy continuing appetite among alternative capital providers to enter the shipping sector.
"We are very pleased to be in a position to support the bank as it moves from disposals and de-risking to focusing on adding value to its ship finance clients – it is a welcome good news story for the sector.”
