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The project consists in a "linked risk-sharing operation" (own-resources; full delegation) to support mid-caps operating in eligible sectors in Spain.
The aim is to improve access to finance for the final beneficiaries, ensuring they have sufficient liquidity to continue their operations. The operation addresses a prevailing market gap for mid-caps facing constraints in accessing finance, driven by economic uncertainty exacerbated by an inflationary environment, supply chain disruptions, energy security, and lasting effects of the pandemic. The EIB guarantee offers capital relief and risk protection to Deutsche Bank, enabling eligible mid-caps to benefit from competitive and flexible financing conditions. This fosters increased investment, employment growth, innovation, and consequently strengthens the resilience of the economy. Additionally, this operation supports the EIB transversal Cohesion objective, with an estimated 35% of mid-cap beneficiaries located in Cohesion Priority Regions.
This Growth-for-MidCaps operation consists of a fully delegated guarantee between the EIB and Deutsche Bank Spain, a financially solid promoter and a repeat client of the Bank. It is designed to support businesses by fostering access to finance and contributing to long-term economic growth, enabling Deutsche Bank Spain to finance small- and medium-sized investment projects in Spain.
This operation aligns with EIB's objective of providing financial support to MidCaps, which are crucial for Europe's economic growth due to their propensity for innovative investments. This support is particularly important as companies gradually engage in new investment projects amidst the uncertainty and challenges posed by Russia's war of aggression against Ukraine and ongoing global trade disruptions.
Specifically, this operation will support MidCaps by guaranteeing eligible transactions (such as term loans for investment purposes). As a result, it will alleviate capital consumption for Deutsche Bank Spain, thereby freeing additional lending capacity up. Furthermore, this operation is expected to have a signalling effect, as this type of product is not massively available in the relevant segment of the corporates market.
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.