pbb Deutsche Pfandbriefbank has provided a 50 million financing to the Department of Bouches-du-Rhône in France. The loan will be used by the local authority to finance the construction and the renovation of schools and to develop the departmental road infrastructure. The transaction closed in December 2012.
Located in the south of France in the region Provence-Alpes-Côte d'Azur, the Departement Bouches-du-Rhône is the third most populous French department with nearly two million inhabitants. The department benefits from the dynamism of the metropolitan region of Marseille and its investments in modern and welldeveloped infrastructure, especially in the areas of education and transportation.
Jean Christophe, Global Head of Public Investment Origination of pbb Deutsche Pfandbriefbank, commented: "pbb is delighted to have been able to support this leading French local authority in financing its major investments, especially in the education sector which is a major part of our activities in Europe."
Source: pbb Deutsche Pfandbriefbank