Finland’s Antilooppi and German resi landlord Vonovia secure new financing

Antilooppi, a Finnish office investor backed by Nordic pension capital, and listed German residential landlord Vonovia have both secured new loans to finance their business.

Antilooppi said on Thursday it has entered into a new €565 mln financing arrangement with the largest Nordic banks operating in Finland. In Germany, leading lenders pbb Deutsche Pfandbriefbank and LBBW said they have granted a €500 mln loan to Vonovia.

The five-year loan granted to Antilooppi will replace an existing €470 mln financing facility, and includes a €385 mln committed term loan, a €15 mln uncommitted overdraft facility and an uncommitted €165 mln facility B. The financing agreement was arranged by Nordea (coordinator and agent), OP, SEB, Danske Bank and Handelsbanken.

‘Over the past years, Antilooppi has developed into one of the leading office investors in the Helsinki office market. The new five-year financing arrangement enables our continued growth and supports our long-term portfolio management,’ said Antilooppi CEO Tuomas Sahi.

‘We wanted to finalise our new financing arrangement well before the end of our previous arrangement, and also to take full advantage of the current low-cost, liquid financing market. With the new arrangement, we are not only seeking a greater financial buffer to support our growth but also looking to achieve a longer-term loan maturity,’ commented CFO Heikki Kaunisto.

The 10-year facility issued to Vonovia is secured against a residential portfolio in Dresden, consisting of around 13,400 residential units and covering a total area of around 800,000 m2. Vonovia will use the credit line for general business purposes.

‘By gaining secured financing at attractive terms we have once again been able to demonstrate the advantages of our financing strategy, which relies on a balanced mix of unsecured and collateralised instruments,’ said Thorsten Arsan, head of corporate finance at Vonovia.


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