"A synthetic securitisation doesn’t move cash – it moves risk."
Signature(s)
Amount
€ 701,312,003.46
Länder
Sector(s)
Niederlande
: € 701,312,003.46
Durchleitungsdarlehen
: € 701,312,003.46
Signature date(s)
2/04/2025 : € 149,806,818.06
2/04/2025 : € 551,505,185.4
Link to source
Other links
Summary sheet
Release date
1 July 2025
Status
Reference
Unterzeichnet | 02/04/2025
20240560
Project name
Promoter - financial intermediary
ABN AMRO ENHANCED SUPPORT TO SMES AND MIDCAPS
ABN AMRO BANK NV
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 720 million
EUR 2226 million
Location
Sector(s)
- Durchleitungsdarlehen - Durchleitungsdarlehen
Description
Objectives
The project concerns a guarantee (synthetic securitisation) covering an existing portfolio of loans to small, medium-sized enterprises (SMEs) and corporates to support the intermediary in lending to SMEs and mid-caps sector in the Netherlands.
The aim is to enhance access to finance to the target beneficiaries.
Additionality and Impact
This Operation aims to alleviate financial constraints for SMEs and Mid-Caps in the Netherlands, particularly those seeking to invest in CA&ES, therefore reinforcing the EU's European Green Deal and the EIB's climate strategy.
Overall, this will happen by making available a guarantee (synthetic securitisation) for an existing portfolio of corporate loans to support the FI's new lending. The operation will address the access to finance problems to SMEs and Midcaps, which result from information asymmetries between lenders and borrowers, and high screening costs. In the current context of high interest rate, EIB will provide an important benefit to Final Beneficiaries through reduction of interest rates. The operation also includes a CA&ES window of 30% and will support final beneficiaries in their low-carbon transition. Some final beneficiaries are expected to be located in Dutch Cohesion (Transition) areas.
The EIB participation in the transaction will create new lending capacity for the Financial Intermediary by freeing up capital on the guaranteed portfolio. The operation will further promote the Significant Risk Transfer (SRT) transactions and as a synthetic securitization it also contributes to EU Capital Markets Union.
Environmental aspects
Procurement
The operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Milestone
Under appraisal
Approved
Signed
5 February 2025
2 April 2025
Link to source
Summary sheet
Other links
News & Stories
Link to source
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Inside the project
How and Why
Freeing capital for new lending
Why
- Banks must hold regulatory capital to cover unexpected losses, but this reduces their capacity to lend to small businesses
- Securitisations help create a more liquid, larger financing market for startups and support the objectives of the Savings and Investments Union
- Better financing for small businesses and startups helps technologies and ideas born in Europe to stay in Europe
How
- The EIB Group takes on part of the risk of the underlying portfolio
- The risk-sharing deal frees capital that would have been consumed by the €1 billion underlying portfolio
- ABN AMRO can commit that newly free capital to back €1.2 billion in new loans for small and medium-sized enterprises
Sectors & Countries
PLAY VIDEO
2:06
Story
The gift of growth for a Dutch entrepreneur
When Loes Daniels started her company from a laptop on her kitchen table, it was hard to imagine she’d one day own a sleek headquarters on Amsterdam’s Concertgebouwplein. “It’s super important to attract top talent,” says Daniels, founder of Experiencegift, a global platform for personalised travel and activity gift cards. “Having a headquarters that reflects our success and ambition helps us do that.”
Twelve years ago, Daniels wanted to give her sister a present—a stay in a London hotel. She had to put the gift together herself, right down to the gift card. It gave her an idea: make it easy to give someone the gift of a hotel stay. Today, her online company sells gift cards for hotels, flights, train journeys and experiences in over 100 countries. With offices in London, New York and Athens, the business has grown rapidly. Now, with a new Amsterdam headquarters, Daniels says the company is ready for its next chapter, and she’s opening an office in Dubai.
The Concertgebouwplein headquarters was possible thanks to a loan from ABN AMRO—financing that was in turn backed by a landmark securitisation deal between ABN AMRO and the European Investment Bank Group. “Without the ABN AMRO financing, we would have found a way,” Daniels says. “But it would have been a distraction. We need to focus on building innovative products, marketing and growing the business.”
“This is a landmark transaction, remarkable both for its scale and its importance to ABN AMRO’s strategic objective.”
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