Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation consists in the purchase of a mezzanine tranche of a true-sale securitisation to stimulate lending to small, medium sized businesses and midcaps. This is a sub-operation presented under the EU Programme Loan for ABS Operations (2022-0538).
The Multi-beneficiary intermediated loan (MBIL) to Banco de Sabadell aims to support investments promoted by the target beneficiaries.
The operation will help address the working capital, liquidity needs, and investment constrains of SMEs and Midcaps in Spain during a period of economic uncertainty. The challenges faced include elevated interest rates, core inflation, subdued domestic consumption, energy security issues and the ongoing war in Ukraine.
The economic impacts are widespread, as value-chains have been disrupted and consumer demand has slowed down. SMEs and Midcaps are facing financial stress and bankruptcies and without addressing their short-term liquidity and investment needs, the adverse economic effects could be long-lasting
The project is therefore eligible under Article 309 point (a) projects for developing less developed regions and point (c) common interest.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.