By Carrick Mollenkamp
Word Count: 397 Companies Featured in This Article: UBS, Citigroup, Merrill Lynch
HSH Nordbank AG said Swiss bank UBS AG sold it $500 million in securities tied to U.S. subprime mortgages that have since soured, in the latest case of a midtier German lender to be singed by the slump in the U.S. mortgage market.
HSH, which specializes in shipping finance, joins a growing number of investors around the world, including municipalities in the U.S. and Australia, that fault the banks that packaged and sold the investments. HSH said yesterday in a ...