corporate_banner_en

EIB signs financing agreement with Austrian Anadi Bank


EIB signs financing agreement with Austrian Anadi Bank

  •  Release date: 31 January 2018
  •  Reference: 2018-024-EN
  • Austrian Anadi Bank partners with EIB financing programme for SMEs and mid-caps
  • EU bank subscribes to covered bonds issued by Austrian Anadi Bank, with the proceeds going to SME financing
  • European Investment Bank's first commitment on the national covered bond market

Austrian Anadi Bank is set to take part in the European Investment Bank's (EIB) financing programme for SMEs and mid-caps. The two parties have signed their first joint finance contract for EUR 75m. Under the finance contract, Austrian Anadi Bank commits to adding a further EUR 75m to the EIB funds, giving SMEs and mid-caps access to a total of EUR 150m in loans on favourable terms.

The EU bank will acquire covered bonds issued by Austrian Anadi Bank as part of the financing agreement. Two initial tranches totalling EUR 50m were subscribed by the EIB in December 2017. A third tranche of EUR 25m can be subscribed in December 2019 provided strictly defined contractual requirements are met. This partnership with Austrian Anadi Bank is the EU bank's first commitment on the Austrian covered bond market. 

Favourable financing for SMEs and mid-caps

EIB co-financed loans enable businesses to access particularly favourable financing. SMEs and mid-caps are key drivers of growth, employment and innovation in Austria and across Europe. It is one of the EIB's top priorities to provide SMEs and mid-caps with long-term financing on very favourable terms. 70% of the funds are earmarked for SMEs with fewer than 250 employees, while 30% are for mid-caps with up to 3 000 employees. The goal is to allocate all of the funds within two years.

Further impetus for Austrian Anadi Bank's SME initiative

“Austrian Anadi Bank is an Austrian multi-channel bank and the core bank for many small and medium-sized trading and manufacturing companies,” said Austrian Anadi Bank CEO Christoph Raninger. The institution recently launched an investment drive for local SMEs. “With economic conditions fortunately having improved, we are now using the EIB-funded financing to provide a further boost. We will support the competitiveness of local businesses by passing on the favourable interest rates of the EIB financing.”

Austrian Anadi Bank – a strong partner

Andrew McDowell, EIB Vice-President responsible for activities in Austria, said: “This is the first time that the EU bank has entered the covered bond market in Austria, providing Austrian Anadi Bank with fresh funding for SMEs and mid-caps. As the EU bank, strengthening small and medium-sized enterprises is our priority. We are therefore particularly pleased to have found a new ally in Austrian Anadi Bank, whose strong SME-focus makes it the ideal partner for our SME and mid-cap programme.” Christoph Raninger added: “With the EIB financing, we are broadening the basis of our funding. If nothing else, the financing agreement is also recognition for our work over the last few years. We would like to thank the EIB for its outstanding level of cooperation and look forward to continuing this partnership.”







 Print
 Pdf
 Short Link