pbb Deutsche Pfandbriefbank, the public investment finance specialist, has provided inter-municipal authority BordeauxMétropole with a €50 mln long-term loan for the acquisition of City of Bordeaux’s equity stake in RÉGAZ-Bordeaux.
The transaction closed in December 2014. RÉGAZ-Bordeaux was created in 1919 to manage Bordeaux’s gas distribution network and is now a public-private company (SEM) providing natural gas to some 46 municipalities. The acquisition follows the establishment of Bordeaux-Métropole on 1st January 2015 and the transfer of responsibilities to the new authority from the City of Bordeaux.
Comprising 28 municipalities and some 727,000 inhabitants, Bordeaux Métropole is set to become a major European hub as a result of the extension of the TGV high-speed train line and the development of industrial and aeronautical research clusters.
Jean Christophe, Head of Public Investment Finance and General Manager of the French branch of pbb Deutsche Pfandbriefbank, said: “This is our first loan to Bordeaux-Métropole, closely linked to the strategically-important energy sector. Given the responsibilities of French ”Métropoles”, our goal is to further strengthen our collaboration with this level of government. We intend to do so, by using our expertise which allows us to understand the constraints our clients face and find appropriate solutions for them.”
Source: pbb Deutsche Pfandbriefbank