Unterzeichnung(en)
Übersicht
- Durchleitungsdarlehen - Durchleitungsdarlehen
The operation involves a guarantee (synthetic securitisation) on an existing portfolio of consumer and/or SME loans and leases, aimed at supporting the financial intermediary's lending activities in the Baltics (Estonia, Latvia, Lithuania). This marks not only EIB's first operation with the Promoter, but also their first securitisation. In an innovative manner, the transaction features assets from four different Member States (Finland and the three Baltic States) within the guaranteed pool. Furthermore, the operation will support the development of cohesion regions in the three Baltic States and will focus on financing micro-SMEs.
Financing of small/medium projects carried out by Small and Medium sized enterprises.
In line with both EU and Bank priorities, the operation aims to support small and medium sized investments in SMEs and Mid-Caps across the three Baltic states. The operation will feature a special focus on micro-SMEs, with a dedication of at least 50%. By using an intermediated approach, the Bank will enhance access to finance for companies in the Baltics. In addition, the operation is expected to help reduce regional disparities, as c. 75% of allocations are anticipated to benefit cohesion areas, consistent with EU cohesion policy.
Through the EIB's involvement, the transaction will release capital from the guaranteed portfolio, thereby providing the Financial Intermediary with additional lending capacity. The operation will also promote the use of Significant Risk Transfer (SRT) transactions among smaller financial institutions. Furthermore, the guaranteed portfolio brings together assets from four Member States (the Baltics and Finland) in an innovative and distinctive manner, resulting in a truly EU cross-border operation that further supports the objectives of the Savings and Investments Union (SIU).
The transaction, similar to recent securitisation initiatives in the Baltics, is considered essential for supporting access to finance for local SMEs. This need has become even more pronounced due to the ongoing war in neighbouring Russia and the associated sanctions, which have significantly impacted the border economies.
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary's capacity, systems and processes will be assessed 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.