pbb Deutsche Pfandbriefbank and Skandinaviska Enskilda Banken AB (publ) ('SEB') acted as joint mandated Lead Arrangers in providing a SEK 1.650 billion (approx. 180 million) refinancing facility to NIAM III News AB, a company ultimately owned by NIAM Nordic Investment Fund III for the 'News' and 'Palmfelt' office portfolios in Sweden.
Both banks have equal shares in the underwriting of this transaction, and SEB also acts as Facility Agent in this transaction. The transaction was closed on June 13, 2011.
The office portfolios consist of four office buildings, three of them in Stockholm and one in Lund in southern Sweden.
Harin Thaker, Head of Real Estate Finance International at pbb Deutsche Pfandbriefbank said: "For pbb Deutsche Pfandbriefbank Scandinavia - and in particular Sweden - is within our core regional focus. This transaction shows pbb's continued competence on this particular real estate market."
Source: pbb Deutsche Pfandbriefbank