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NATIXIS Pfandbriefbank AG finances a €90 million pfandbrief-eligible and sharia-compliant mortgage loan
NATIXIS Pfandbriefbank AG, a 100% direct subsidiary of Natixis specialized in real estate financing, has provided a 5-year €90 million sharia-compliant mortgage loan to a London-based investment company managing a fund for Middle East investors.
NATIXIS Pfandbriefbank AG acted as Arranger and Sole Underwriter on a non-recourse financing which was structured to be both eligible for Pfandbrief refinancing and compliant with Sharia requirements. In this transaction, the NATIXIS Pfandbriefbank AG was counselled by Norton Rose Fulbright LLP.
The ultimate purpose of the loan is to partly finance the investment costs related to the acquisition of an office property located in Frankfurt, Germany. The rd. 44,000 large square meters property is almost fully let to a German blue chip company with a 10-year lease.
Natixis also advised the investment company on the Sharia structure and acted as agent on the purchase and on-sale of commodities (Murabaha).
NATIXIS Pfandbriefbank AG is a subsidiary of Natixis S.A., which is a company of Groupe BPCE. NATIXIS Pfandbriefbank AG issues Mortgage Pfandbriefe to refinance its commercial real estate loan business.
The Mortgage Pfandbriefe are rated by Moody's with Aaa.
Figures as at September 30, 2015
About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.4 billion, a Basel 3 CET1 Ratio(1) of 11.5% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in and including current financial year’s earnings and accrued dividend (based on a 60% pay-out).
Figures as at 30 September 2019.
