aurelis and pbb Deutsche Pfandbriefbank extend investment finance facility of €700 mln. (DE)

As part of a syndicate financing, pbb Deutsche Pfandbriefbank has extended the investment finance facility of a total volume of approximately €700 million for aurelis Asset GmbH ahead of schedule.

pbb Deutsche Pfandbriefbank acted as Lead Arranger of the syndicate and Agent for this transaction. The non-recourse-funding, which has now been extended, was originally agreed in September 2009.

As a result of the planned sales of a number of real estate objects from the regionally diversified portfolio, aurelis was able to reduce the credit volume by more than €200 million within two years, which in turn further improved the financing ratios.

Joachim Wieland, CEO of aurelis, explained: "The earlier refinancing of our credit until 2015, means that we have planning security at an early stage for our company. Especially with the current uncertainty on the financial markets, this is an important step for us which looks to the future."

Dr. Bernhard Scholz, Member of the Management Board at Deutsche Pfandbriefbank, said: "I am very pleased that we have been able to continue this cooperation in the long-term with one of our most important customers. This transaction shows that we are able to offer our customers tailor-made funding solutions, even under difficult capital market conditions."

Source: pbb Deutsche Pfandbriefbank

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