Release date: 5 July 2021
Promoter – Financial Intermediary
BANCO SANTANDER SALocation
Description
Reverse factoring operation under the European Guarantee Fund (EGF) of trade payables of corporates and mid-caps located outside Spain in EGF-participating Member States, improving access to finance of their (mainly small and medium-sized enterprise (SME)) suppliers.
Objectives
The operation will allow an increase in the reverse factoring volumes available for suppliers to identified mid-cap and large corporate buyers enabling access to finance at favourable financing conditions for SME and mid-cap final beneficiaries.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 11200 million
Environmental aspects
In accordance with the Bank's policy to ensure that projects in sub-operations comply with the Acquis, in particular in the fields of environment and public procurement, the Financial Intermediaries shall provide in their reverse factoring agreements with the Buyers that sub-projects undertaken by the latter shall comply with the relevant applicable EU and national legislation.
Procurement
In accordance with the Bank's policy to ensure that projects in sub-operations comply with the Acquis, in particular in the fields of environment and public procurement, the Financial Intermediaries shall provide in their reverse factoring agreements with the Buyers that sub-projects undertaken by the latter shall comply with the relevant applicable EU and national legislation.
Status
Signed - 16/06/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).