Deals
Deutsche Bank Pursues $3 Billion Energy Portfolio Sale
- Rival banks from North America and Europe expected to bid
- Sale push follows decision by bank to close Houston office
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Deutsche Bank AG is seeking to sell its portfolio of non-investment grade energy loans, worth about $3 billion, according to people with knowledge of the matter.
The Frankfurt-based lender, which said in May it was closing its Houston office, is planning to sell the loan book as a whole and has marketed it to North American and European peers, said one of the people. The portfolio is expected to sell for par value, said the people, who asked not to be identified because they weren’t authorized to speak publicly.