NIBC sells its leveraged finance portfolio to OLB and Dutch insurance company a.s.r.Corporate News -
NIBC has entered into an agreement with Dutch insurance company a.s.r. and Oldenburgische Landesbank Aktiengesellschaft to sell a significant part of its leveraged loan portfolio. The sale is fully in line with the bank's previously announced sharpened business strategy to focus on asset-backed financing.
The total portfolio includes loans to approximately 36 companies and will be split between a.s.r. and OLB. Most of the loans are to mid-market private equity owned companies, mainly located in Germany and the Netherlands.
The transaction will be finalized and settled in the coming months.