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    Référence: 20210633
    Date de publication: 20 juillet 2023

    Promoteur – Intermédiaire Financier

    BANCO BPM SPA

    Lieu

    Description

    The operation consists in a guarantee under the European Guarantee Fund (EGF) to Banco BBPM. The guarantee will cover the junior tranche of the intermediary's granular portfolio of loans to small and medium sized enterprises (SMEs) in order to support new lending to SMEs.

    Additionality and Impact

    The proposed transaction consists of a EGF operation, in the form of a first loss piece guarantee on an SME and Midcap portfolio originated by Banco BPM in order to support new lending to SMEs. Banco BPM is well-known to the Bank and a financially solid and experienced promoter in deploying EIB mandates. The quick mobilisation of SME financing is strategic considering their high contribution to the country's economic growth and to sustain the employment. The proposed operation addresses a market failure related to SMEs access to finance in the aftermath of the Covid-19 pandemic. The operation is expected to mitigate the financial constraints for this market segment and help viable companies to sustain their economic recovery and to relaunch their business activity severely hit by the pandemic crisis. The operation also supports the strengthening of the EU's economic, social and territorial cohesion by tackling the disparities in the regional development and by helping companies located in the less developed regions to grow there. Eventually, this will support the ultimate goal of regional policies, namely convergence, by raising employment levels and facilitating re-industrialisation.

    Objectifs

    The operation aims at enhancing access to finance for the specific market segment. In detail, the transaction is an unfunded Asset Backed Securities investment, a de-linked product aiming at relieving capital on existing loan portfolio which will be redeployed into new financing. This operation will also contribute to mitigate the Covid19 effects as large portion of the new SME portfolio will be originated in the severely affected regions.

    Secteur(s)

    Montant BEI envisagé (montant approximatif)

    EUR 91 million

    Coût total (montant approximatif)

    EUR 1344 million

    Aspects environnementaux

    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.

    Passation des marchés

    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.

    Statut

    Signé - 17/12/2021

    Milestone
    À l'examen
    Approuvé
    Signé
    30 novembre 2021
    17 décembre 2021

    Clause de non-responsabilité

    Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
    Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).

    Mots-clés correspondants

    Italie Lignes de crédit