German lender pbb Deutsche Pfandbriefbank is expanding its public investment finance activities to include the Nordic countries.
German lender pbb Deutsche Pfandbriefbank is expanding its public investment finance activities to include the Nordic countries.
Activities will initially focus on Sweden and Finland, where pbb has already closed loans for a total of €125 ml in June.
CEO Manuela Better said: 'Following real-estate finance, we are now also developing the Nordic markets for our second business segment, namely public investment finance. The markets are very stable, we know the markets and our two business lines complement each other. Our public-sector Pfandbriefe will become more attractive as a result of the expansion of the cover pool.'
In public investment finance, pbb targets projects for providing public sector infrastructure. It focuses on public-sector facilities, municipal housing, utilities and the disposal industry, health, nursing-care and child-care properties as well as
educational facilities.
In June, pbb successfully closed the first two transactions on the Finnish market. pbb provided the Finnish public company 'Senaatti-kiinteistöt' with a long term loan of € 75 mln. The funds will be used to refurbish the existing real estate stock.
pbb also provided a long-term loan of € 50 mln to the city of Tampere to develop new areas around the city. The development includes the construction of new municipal buildings and the expansion of the road and water
networks.f
