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Bryan Cave and PSPC Advise Bühnen der Stadt Köln, the Performing Arts Center of the City of Cologne, on its 40-year, 200 million euro fixed interest rate Schuldschein loan

January 20, 2017

Hamburg/Frankfurt/Berlin, 20 January 2017 Global law firm Bryan Cave, together with infrastructure advisory PSPC, has advised the performing arts center of the city of Cologne, Bühnen der Stadt Köln („Bühnen Köln“) on the structuring and execution of a fixed interest rate, 40-year term, 200 million euro Schuldschein loan arranged by Deutsche Bank AG. The Schuldschein loan was placed with institutional investors in three tranches.

The 40-year term, fixed interest rate Schuldschein loan forms part of a financing concept prepared by Bryan Cave and PSPC in connection with the refurbishment of the listed and landmark protected Riphahn buildings in Cologne, which are home to Bühnen Köln’s opera, theater, children’s opera and dance performances. The financing concept takes into account the options available to Bühnen Köln as a dependent municipal institution of the city of Cologne to ensure capital and debt service. In addition to the Schuldschein loan, the financing concept also included debt financing from the EIB as well as KfW funds made available through NRW.BANK.

Bryan Cave Financial Services Partner Sandra Pfister and PSPC Managing Director Corinna Hilbig were joint lead advisers to Bühnen Köln. They were assisted by Bryan Cave Financial Services Associate Reinhard Bunjes and Ulrich Koltermann of PSPC.

About Bryan Cave LLP

Bryan Cave ( is a global law firm with approximately 1,000 highly skilled lawyers in 27 offices in North America, Europe and Asia. The firm represents publicly held multinational corporations, large and mid-sized privately held companies, emerging companies, nonprofit and community organizations, government entities, and individuals. With a foundation based on enduring client relationships, deep and diverse legal experience, industry-shaping innovation and a collaborative culture, Bryan Cave’s transaction, litigation and regulatory practice serves clients in key business and financial markets.


Eckart Budelmann, LL.M. (University of New South Wales)
Rechtsanwalt, Managing Partner
Bryan Cave Hamburg
Tel.: +49 (40) 30 33 16 125

Sandra Pfister, LL.M. (University of Sydney)
Rechtsanwältin, Partner
Bryan Cave Hamburg
Tel.: +49 (40) 30 33 16 135

Hannah Stiehler
Marketing Coordinator
Bryan Cave Hamburg
Tel.: +49 (40) 30 33 16 147

About PSPC

PSPC GmbH was established in 2001 and is specialized in financial and technical support of holistic infrastructure projects and financing alternatives in the structural engineering sector and in traffic infrastructure. We support our customers in project development and project structuring, tender management and construction and operational controlling. Other substantial areas of our services are the preparation of financing models, feasibility studies and suitability tests, quotation management and financial consulting with the goal to optimize costs over the life cycle. Our offices in Berlin and Cologne assure that we are locally available for our clients.


Dr. Corinna Hilbig
Managing Partner
Tel.: +49 (30) 315199 21