Release date: 10 February 2023
Promoter – Financial Intermediary
CAIXABANK SALocation
Description
Counter-guarantee on a first loss piece (FLP) of a synthetic securitisation under the European Guarantee Fund mandate to support small and medium-sized projects carried out by small and medium-sized enterprises mainly located in Spain, but also in other EU countries.
Objectives
The operation concerns a first loss piece guarantee of up to €100 million on a granular synthetic securitisation for the ultimate benefit of Caixabank S.A.. It is presented under the EGF - EU PL - LOAN SUBSTITUTE INSTRUMENT (2021-0635) with the aim to directly address the working capital, liquidity needs and investment constraints of small and medium-sized enterprises in the EU. The Programme Loan for EGF Loan Substitute ("EGF-ABS") operations was designed with the purpose to mobilise new lending for small and medium-sized enterprises.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 112 million
Total cost (Approximate amount)
EUR 1418 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 28/06/2022