• The European Investment Bank (EIB) is investing EUR 230.9m in UniCredit Leasing Austria’s “Success 2015” ABS transaction
  • Customers will benefit from the advantages of low-cost funding
  • Under the cooperation arrangement with the EIB, UniCredit Leasing Austria and Bank Austria will make available to SMEs a total of EUR 230.9m in medium-term and long-term lease financing and loans on attractive terms over the next two years
  • Bank Austria and UniCredit Leasing Austria will thus support the EIB’s policy objectives while motivating business people to take advantage of favourable terms and conditions for investment projects
  • This transaction opens up the securitisation market for SME finance in Austria

The European Investment Bank (EIB) will make available EUR 230.9m to UniCredit Leasing Austria through the purchase of asset-backed securities (ABS). The “Success 2015” ABS transaction was arranged by UniCredit Bank Austria AG and Munich-based UniCredit Bank AG. The EIB is investing in the senior tranche, which has an AAA rating from Fitch and DBRS. UniCredit Leasing Austria will take the junior tranche (class B) amounting to around EUR 94.4 million on its books. The secured portfolio comprises motor vehicle leasing agreements (59 per cent) and other leased assets (41 per cent). The transaction, concluded in Luxembourg on Friday 20 November 2015, does not involve any changes for the lessees.

This is the first ABS transaction, under which the EIB and UniCredit Leasing Austria are working together. The funds provided to UniCredit Leasing Austria as a result of the purchase of securities by the EIB will be directly used for strengthening new businesses. Under the cooperation arrangement with the EIB, UniCredit Leasing Austria has undertaken to grant medium-term and long-term lease financing on attractive terms, mainly to SMEs, for a total amount of EUR 230.9m over the next two years.

Helmut Bernkopf, Member of Bank Austria’s Management Board with responsibility for retail and corporate customers remarked, “We are very pleased that the EIB’s participation in this transaction will enable us to offer lease financing and also loans to SMEs totalling EUR 230.9m on particularly favourable terms and conditions over the next two years. Bank Austria is thus making available additional financing opportunities to companies, once more underlining its leading position as a lender in Austria. Moreover, this transaction will contribute to opening up the securitisation market for financing small and medium-sized businesses in Austria.”

EIB Vice-President Ambroise Fayolle commented: “I very much welcome the fact that EIB funds will facilitate access to credit for SMEs and midcap companies operating in a number of productive sectors in Austria, such as manufacturing. Improved access to long-term finance for these companies is vital for the development of the Austrian economy in terms of job creation and growth. Together with UniCredit Leasing Austria, the EIB is extending the funds needed to accomplish priority projects fostering the competitiveness of the Austrian economy.”

Günther Populorum, CEO of UniCredit Leasing Austria, added, “We will use the funds from the EIB to actively support projects of SMEs. By offering particularly attractive terms, we wish to motivate Austrian business people to take advantage of the favourable conditions for investment.”