Pbb Deutsche Pfandbriefbank issued more than €1.5 bn in loans in the final quarter of 2012, with December accounting for the bulk of this figure.
Pbb Deutsche Pfandbriefbank issued more than €1.5 bn in loans in the final quarter of 2012, with December accounting for the bulk of this figure.
The German lender announced a string of transactions in the final weeks of 2012 and the first week of January including a SEK 4.3 bn (€495 mln) refinancing facility to 43 subsidiaries of Swedish listed real estate company Sagax.
Under the deal, Sagax has extended an existing pbb facility for two industrial and warehouse portfolios through 2018. The loan represents around 65% of the company's interest-bearing liabilities, Sagax said.
The Swedish deal was the biggest facility extended in the last three months of 2012, according to PropertyEU Research. In the past week, Pbb has announced further deals closed in the final days of 2012 worth a combined €350 mln.
Aside from its home market, the German lender is also active in the key markets of Europe including France, the UK, the Nordics and Central and Eastern Europe. While most of the borrowers were commercial parties, one of the recently announced deals involves a public sector client in France. Earlier this week, Pbb announced it has provided a €50 mln loan to the Department of Bouches-du-Rhône in France to finance the construction and renovation of schools and to develop road infrastructure.
