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    Reference: 20200116
    Release date: 17 December 2020

    Promoter – Financial Intermediary

    BANCO BPM SPA

    Location

    Description

    Guarantee to a mezzanine tranche on a Banco BPM granular portfolio in order to support new lending to small and medium-sized enterprises (SMEs) and mid-caps in Italy. This operation will also contribute to mitigating the effects of the COVID-19 pandemic as a large portion of the new SME portfolio (estimated at more than 60%) will originate in the severely affected regions of: Lombardy, Veneto and Emilia Romagna.

    Objectives

    The operation aims at enhancing access to finance for the specific market segment. In detail, the transaction is an unfunded Asset Backed Securities mezzanine investment, a de-linked product aiming at relieving capital on existing loan portfolio which will be redeployed into new financing.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 1190 million

    Environmental aspects

    The EIB will require that BBPM take all the required measures to ensure that final recipients (SMEs and mid-caps) meet the EIB's environmental standards and related EU/national legislation.

    Procurement

    The EIB will require that BBPM take all the required measures to ensure that final recipients (SMEs and mid-caps) meet the EIB's procurement standards and related EU/national legislation.

    Status

    Signed - 18/12/2020

    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

    Italy Credit lines