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    Reference: 20130335
    Release date: 25 October 2013

    Promoter – Financial Intermediary

    SORIN SPA

    Location

    Description

    Financing of the Sorin Group research and development activities in the cardiac surgery and rhythm management fields, in Italy (80%) and France (20%).

    Objectives

    The project concerns the company's research and development (R&D) of various new products and product improvements in heart failure with a particular focus on i) cardiopulmonary, ii) cardiac rhythm management and iii) heart valves.

    Comments

    The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    EUR 212 million

    Environmental aspects

    The project mainly concerns investments in R&D that are expected to be carried out in existing facilities without changing their already authorized scope and would therefore not require an EIA under the Directive 2011/92/EU. Full environmental details will be verified during the appraisal.

    Procurement

    The promoter is a private company not operating in the Utilities sector and not having the status of a contracting authority. Thus it is not covered by EU Directives on procurement. However, the promoter’s procurement procedures are expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project due diligence.

    Status

    Signed - 6/05/2014

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    France Italy Industry