pbb Deutsche Pfandbriefbank and Investitionsbank Berlin (IBB) continue the cooperation over the financing of housing projects in Berlin. Under the agreement, IBB has granted a master credit line (global loan) of €65m to pbb, which will use the funds to refinance loans to its Berlin-based housing and real estate companies. The global loan from IBB is to cover the portions of such loans not eligible for inclusion under the Pfandbrief cover. This allows pbb, the specialist real estate finance house, to support the Berlin real estate market with financing at special terms and conditions. The two banks are the first to have entered into a master agreement of this kind in 2013.
