Release date: 20 June 2018
Promoter – Financial Intermediary
BE-SPOKE CAPITAL (IRELAND) LTDLocation
Description
The project consists of a loan substitute to a non-bank financial intermediary providing unsecured senior loans to small and medium-sized enterprises (SMEs) and mid-caps in Spain. The EIB will invest in the mezzanine note of a term securitisation, facilitating the release of funds from the existing bridge facility, and helping the intermediary originate new loans going forward.
Objectives
The operation complements the secured lending supply by the Spanish banks. Such diversification of financing options for the middle-market companies correlates positively with the efforts to develop an EU-wide capital markets union, and will contribute to sustainable economic growth in the long run.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 80 million
Total cost (Approximate amount)
not applicable
Environmental aspects
The final beneficiaries will be requested to comply with domestic and EU legislation, as applicable.
Procurement
The final beneficiaries will be requested to comply with domestic and EU legislation, as applicable.
Status
Signed - 21/12/2018
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).