Deutsche Pfandbriefbank and La Banque Postale provide €160 million long term facilities to French public law entity Fondation Nationale des Sciences Politiques
Clients Deutsche Pfandbriefbank AG and La Banque Postale
Jones Day represented Deutsche Pfandbriefbank AG (PBB), as arranger, and La Banque Postale, as co-arranger, in connection with €160 million (US$195.8 million) long term facilities provided to French public law entity Fondation Nationale des Sciences Politiques (FNSP) acting as borrower and sponsor of the new Sciences Po campus. The transaction is divided in two parts: an acquisition facility of €80 million provided at the end of 2016 as well as a €80 million capex facility signed in January 2018. The City of Paris, which strongly supports the plan to increase the attractiveness of higher education in the capital city, provided a 75% guarantee for the financing.
The Fondation Nationale des Sciences Politiques, a private law foundation in charge of the Institut d’Etudes Politiques de Paris, bought the Hôtel de l’Artillerie from the French ministry of Defense at the end of 2016 with a view to developing the new Sciences Po campus and additionally streamlining its real estate properties.