HSH Nordbank Finances new Rothschild London Headquarters
Loan Facility of GBP 122m (EUR 152m) Financing will provide all the debt required for this highly prestigious project in the City of London
Hamburg/Kiel, May 8, 2008 - HSH Nordbank has arranged and underwritten the development financing for the new headquarters of NM Rothschild & Sons Limited (‘Rothschild’) on its historic site of New Court, St. Swithin’s Lane in the heart of the City of London. The loan facility that has been arranged by the London Branch’s Real Estate team is for a total amount of GBP 122 million (EUR 152 million).
Rothschild is a leading European investment bank and part of the Rothschild group of companies which was originally established in Frankfurt in 1798. Rothschild has had a presence at New Court since 1809 and the new property will be its third purpose-built headquarters on the site.
With a net internal area of 140,000 square feet (13,000 square metres), the new building will be more than twice as large as the existing property. The development will allow Rothschild to house its entire London-based staff in a new landmark building. Construction commenced in the first quarter of 2008 and the building is scheduled to be completed during 2011.
”We are pleased to have HSH Nordbank as our financing partner for the development of our new London headquarters”, said a Rothschild spokesman. “We have been based at New Court for nearly 200 years and look forward to occupying our new building and developing a long term relationship with HSH Nordbank.”
“We are delighted to be the Sole Mandated Lead Arranger and Sole Underwriter for this highly prestigious transaction which has involved close co-operation with Rothschild over several months”, said Peter Axmann, Deputy Head of Real Estate at HSH Nordbank. “It also provides a welcome boost to the real estate market in London. The continued presence of institutions such as Rothschild in the City of London is one of the reasons for the City of London’s outstanding success and position as the World’s leading financial centre. The new construction of the London headquarters of Rothschild is a vote of confidence for the City and its important role.”
HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 205 billion. Some 4,800 of the bank’s employees provide corporate and high net-worth clients around the globe with premium bank products and services. In its core region of Hamburg and Schleswig-Holstein, it is the market leader in the corporate customer segment. HSH Nordbank is an acknowledged partner of the capital markets and international sector specialist. Its main focus is on transportation and real estate. In fact, HSH Nordbank is the world’s largest provider of ship finance and covers the entire value chain in the transportation segment. In the area of real estate, HSH Nordbank is one of the strongest banks in Germany, acting as a provider of services relating to all aspects of real estate.
For more information please visit our website at www.hsh-nordbank.com.
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