Reference: 20180580
Release date: 9 September 2019

Promoter – Financial Intermediary

GAGEO ASSET FINANCE SERVICES SAS,FRANCE TITRISATION

Location

Description

EUR 30m investment in GAGEO I, a first-of-a-kind EUR 200m debt fund providing mid- to long- term collateralised lending to European SMEs and Mid-Caps, backed by inventory and equipment critical to business continuity. The operation is proposed under EFSI.

Objectives

The projects addresses the European SMEs and Mid-Caps financing gap by investing in the fund Gageo I. This debt fund targets investments in Europe (mainly in France), through a non granular and diversified portfolio of long-term debt instruments backed by inventory and equipment critical to business continuity. Thanks to its innovative structure, the fund will complement the deficient and weakly diversified SMEs and Mid-Caps financing offer, enhance co-investments and support employment and growth in Europe.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 30 million

Total cost (Approximate amount)

EUR 100 million

Environmental aspects

The Fund will be required to develop an environmental and social policy and establish the appropriate management systems so as to comply with the environmental and social requirements of the Bank. The assessment of the environmental and social impacts and risks will be part of the standard due diligence process that the Fund will have to carry out for each underlying investment, thereby ensuring that the portfolio and these investments are in compliance with national law, EU environmental legislation as well as the EIB Environmental and Social Standards.

Procurement

The Fund has been assessed by EIB as investing only in private companies not being subject to the EU rules on public procurement or concessions. Overall, the Bank will require the Fund Manager to take all the requisite measures to ensure that contracts for the implementation of the projects financed by the Fund follow fair and transparent procurement procedures and satisfy the criteria of economy and efficiency.

Status

Signed - 20/12/2019

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

France EU Countries Credit lines