Release date: 21 June 2023
Promoter – Financial Intermediary
BANCO BILBAO VIZCAYA ARGENTARIA SALocation
Description
EIB participation in mezzanine tranches of a Cash ABS transaction to finance green projects in Spain.
Additionality and Impact
The project will support the green transition by financing new energy efficient buildings (the operation will thus have a 100% climate contribution). EIB contribution takes the form of financial benefit and longer tenors. By providing new credit lines to SMEs and Mid-Caps via an established intermediary, the EIB can play a counter-cyclical role, preserve employment and positively contribute to the recovery of the Spanish economy. EIB investment, through a securitization, will crowd-in public and private investors. BBVA has a good track record in allocating EIB funds to support sound projects dedicated to SMEs and Mid-Caps.
Objectives
Financing of small/medium-sized projects carried out by small and medium-sized enterprises.
Sector(s)
- Industry - Construction
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 22/06/2023