pbb provides €50m financing for major public projects (ES)

pbb Deutsche Pfandbriefbank, the specialist lender for real estate finance and public investment finance, provided a €50m long term loan to the Region of Asturias, Spain, to finance several investment projects including road networks, water utilities, rural development and public schools. The transaction closed in July 2016.

The “Principado de Asturias” is a single-province region located in the North of Spain with 78 municipalities. The capital city is Oviedo and the region covers an area of some 10,603km² with a population of around 1,051,000 million inhabitants. Spanish regions have de-centralised administrations which assume responsibility for all local services such healthcare, education and infrastructure development.

Jean Christophe, Head of Public Investment Finance of pbb Deutsche Pfandbriefbank said: “pbb can offer Spanish regions many years of experience and know-how in financing public sector projects. pbb has a long track record in projects across Europe. We are pleased to support the Region of Asturias in these projects, which are perfectly aligned to our experience and profile.”