Global law firm Norton Rose Fulbright has advised NATIXIS Pfandbriefbank AG on its five year €90 million 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 the non-recourse financing which was structured to be eligible for both Pfandbrief refinancing and compliant with Shariah requirements.

NATIXIS Pfandbriefbank AG provides commercial real estate financing services in Germany, and is a subsidiary of NATIXIS, the international corporate, investment, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 36 million clients spread over two retail banking networks, Banque Populaire and Caisse d’Epargne. NATIXIS Pfandbriefbank AG issues Mortgage Pfandbriefe to refinance its commercial real estate loan business.

The purpose of the loan is to finance the acquisition of an office property located in Frankfurt, Germany. The property is let in majority to a German blue chip company with a 10-year lease. NATIXIS Pfandbriefbank AG also advised the investment company on the Shariah structure and acted as agent on the purchase and on-sale of commodities (Murabaha).

The Norton Rose Fulbright team was led by Frankfurt partner Rüdiger Litten and also included partner Nadine Bourgeois, of counsel Thilo Danz and associate Osman Sacarcelik. The team in Dubai consisted of Head of Islamic Finance Mohammed Paracha and associate Jake Jackson; and in London partner Nigel Dickinson and associate Charlotte Brown worked on the matter.

NATIXIS Pfandbriefbank AG is a long-standing client of Norton Rose Fulbright.