- Under the operation, the EIB Group will invest €362.5 million in a Sabadell-led securitisation.
- This will enable Sabadell to unlock around €1 billion to finance the liquidity and investment needs of small and medium-sized enterprises and mid-caps.
- Up to €164 million will be channelled into loans for companies in the security and defence sector – the first time an EIB Group securitisation has included such a component.
- The transaction will boost the competitiveness of Spanish businesses and support the EIB Group’s strategic priorities, notably climate action and stronger European security and defence capabilities.
The European Investment Bank Group (EIB Group), comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), has invested €362.5 million in a Banco Sabadell securitisation. This will enable Banco Sabadell to unlock €975 million to finance the liquidity and investment needs of small and medium-sized enterprises and mid-caps in Spain.
Up to €164 million will go to firms of this size in security and defence. It is the first time that part of the funds raised through an EIB Group-backed securitisation will be directed to small business loans for projects in this sector.
The Banco Sabadell securitisation will provide companies with financing to address their liquidity needs and support the investments required to strengthen their competitiveness. The EIB Group has invested €362.5 million, with €312.5 million from the EIB and €50 million from the EIF in the senior tranche. The investment also includes a green component, under which Banco Sabadell will originate a portfolio of green loans worth up to €71.5 million.
“This agreement with Sabadell marks a milestone not just for the EIB Group, but for the European securitisation market as a whole. For the first time, part of the loans originated by a transaction of this kind will be directed to small and medium firms and mid-caps working on security and defence projects,” said Gemma Feliciani, director of Financial Institutions at the EIB.
Eduardo Currás, deputy general manager and head of Corporate Banking at Banco Sabadell, said: “This operation with the EIB Group enables us to step up our commitment to the growth of small and medium businesses and mid-caps in Spain by significantly expanding their access to finance at a crucial time. The mobilisation of close to €1 billion will help cover their liquidity needs and their investment plans to boost competitiveness. It also demonstrates the role securitisation can play in directing resources to the real economy and strengthening businesses.”
“At the EIF, we are very pleased to be strengthening our partnership with Sabadell to expand access to finance for Spanish small and medium businesses, supporting their investment in competitiveness and in a strategically important sector for Europe – security and defence. This operation also highlights the potential of securitisation to mobilise private capital and advance the savings and investments union,” said EIF Chief Investment Officer Marco Marrone.
This new transaction contributes to the EIB Group’s strategic priorities for 2025-2027, notably climate action and stronger security and defence capabilities. In security and defence, the EIB Group has made extraordinary progress, broadening eligibility and quadrupling its financing in 2025 to over €4 billion. It is on track to reach its 2026 target of allocating 5% of its total annual EU financing to this area. The Sabadell operation also highlights the Group’s role in promoting financial instruments such as securitisation, which help unlock capital to support investment by smaller businesses, reduce risk for financial institutions and contribute to the EU savings and investments union – one of the Group’s strategic priorities.
Technical note
The transaction is structured as an asset-backed securitisation (ABS). Banco Sabadell has transferred a €1.01 billion portfolio of consumer loans to a special purpose vehicle. The special purpose vehicle has issued €1.01 billion of ABS notes in the European capital markets, backed by consumer credit. The transaction features a seven-tranche structure with excess spread, pro rata amortisation (subject to a performance trigger) and a seven-month revolving period.
Background information
EIB Group
The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.
In 2025, the EIB Group completed financing and investment operations in Spain totalling around €11 billion, which came alongside an additional €2.9 billion under the Regional Resilience Fund (NextGenerationEU loans).
The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs. In 2023, the EIF together with six Member States (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative (ETCI), a fund-of-funds to scale up innovative startups. This initiative has already enabled the creation of 15 European venture capital mega funds and scaled up 43 companies, including 12 unicorns (with more than €1 billion in capital).
Photos of the EIB Group’s representatives and headquarters, logo files and video B-roll for media use are available here.