Release date: 22 November 2021
Promoter – Financial Intermediary
BANCO BILBAO VIZCAYA ARGENTARIA SALocation
Description
First loss piece guarantee on a synthetic securitisation structure to support small and medium-sized projects carried out by small and medium-sized enterprises (SMEs) located in Spain.
Objectives
The operation concerns a first loss piece ("FLP") guarantee of up to EUR 120 million on a granular synthetic securitisation for the ultimate benefit of BBVA S.A.. It is presented under the EGF - EU PL - LOAN SUBSTITUTE INSTRUMENT (2021-0635) with the aim of directly addressing the working capital, liquidity needs and investment constraints of EU SMEs. The programme loan for EGF Loan Substitute ("EGF-ABS") operations was designed with the purpose to mobilise new SME lending.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 120 million
Total cost (Approximate amount)
EUR 1344 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 - 17/12/2021
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).