Danish pension fund PKA is providing a DKK 500 mln (€67 mln) five-year loan to developer TK for the refinancing of the Sillebroen shopping centre in Frederikssund, Denmark.

Danish pension fund PKA is providing a DKK 500 mln (€67 mln) five-year loan to developer TK for the refinancing of the Sillebroen shopping centre in Frederikssund, Denmark.

PKA is one of Denmark's largest pension companies with 270,000 members and total assets of DKK 215 bn.

The new loan will refinance an existing short-term financing from two foreign banks, TK said.

The company plans to redevelop the scheme with the aim of improving occupancy levels and putting the asset on the market in the medium term.

Opened in 2010, Sillebroen failed to take off due to the financial crisis and TK hopes to improve visitor numbers and revenues through an 1,400 m2 extension which would bring its total size to around 26,400 m2.

The asset is currently 95% leased.

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INVESTMENT BRIEFING
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Outlook 2016: Europe & The Nordics
Date Dec 01, 2015
Time 09:30 - 12:00
Location Catella Corporate Finance AB, Birger Jarlsgatan 6, 4th floor
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