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The operation consists of a Mezzanine ABS Guarantee on an existing portfolio in Italy.
The aim is to enhance access to loans for projects carried out by small and mid-sized enterprises (SMEs) and MidCaps, mainly in Italy.
The operation will provide capital relief to Deutsche Bank with the aim of generating additional lending to Italian SMEs and Midcaps, which is still at suboptimal levels. Moreover, 30% of the total loan will be allocated to SMEs and Midcaps located in Less Developed regions. The SMEs and Midcaps will benefit from the EIB support in the form of lower interest rates and/or longer tenors.
Difficulties in access to finance for SMEs and Midcaps have been exacerbated by geopolitical challenges facing the world economy. In Italy, the economy is strongly dependent on smaller firms and, as such, the financing of these firms has a strong impact both on jobs and on the growth of the economy.
With the participation in this deal, EIB is consolidating its position as a cornerstone investor in this segment. Furthermore, EIB is not only contributing to the expansion of the Capital Markets Union (CMU) but also contributing to set a standard on this market segment that requires a strong customisation and constant adaptation to the evolving regulatory requirements.
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.