Nordic and German banks back Finland’s Sponda with €600m of debt

The listed firm has agreed to a €500m term loan and a €100m revolving credit facility.

Finnish real estate investment company Sponda has agreed to syndicated credit facilities totalling €600 million from a club of Nordic and German banks. Helaba, which is aiming to increase its Nordic lending, has taken a participation in the deal.

The listed firm has agreed to a €500 million term loan and a €100 million revolving credit facility. Both facilities are unsecured and are for five years.

The mandated lead arrangers and book-runners in the deal are Danske Bank, Nordea, OP Corporate Bank, SEB and Swedbank. Aktia Bank and Helaba were lead arrangers. Nordea is acting as the facility agent.

The term loan will refinance existing debt which is due to mature this year and will also be used for general corporate purposes. The revolver extends a similar undrawn €100 million facility which had been due to mature in November.

Helsinki-listed Sponda focusses on developing and investing in office, retail, shopping centres and logistics in Finland and Russia. The firm has a 1.1 million square metre portfolio valued at around €3.1 billion at the close of 2015.

Earlier this month, Helaba announced the appointment of Swedish banker Pontus Sundin to head up its new Stockholm office, from which it is aiming to capture more Nordic business.