Europese Investeringsbank en Spaanse bank Santander eens over financiële ondersteuning midden- en kleinbedrijf (en)
PRESS RELEASE
BEI/13/187
Luxembourg, 19 November 2013
Spain: EIB - Santander: new agreement for financing SMEs and midcaps
The European Investment Bank (EIB) and Banco Santander have signed a EUR 234.6 million agreement to set up a SME asset securitisation fund. This is the second instalment of a total EUR 400 million loan to finance the long-term investment and working capital needs of SMEs and midcaps (companies with up to 3 000 employees).
The operation will enable the creation of a new securitisation fund into which Banco Santander will transfer the assets. The EIB will buy a senior tranche of bonds issued by the securitisation fund and Banco Santander will channel the proceeds into financing new investment projects of SMEs and midcaps in a variety of sectors on more favourable terms.
One of the aims of this operation is to reopen the SME asset-backed securities market in the European Union. This is the first time that the EIB has bought SME asset-backed securities under the EIB Group’s SME ABS Initiative, in cooperation with the European Investment Fund (EIF), and the first time that it has subscribed bonds of a SME asset securitisation fund originated by Banco Santander.
As an EU priority, supporting small businesses is one of the EIB’s top investment objectives. Today’s loan has been granted under the Bank’s policy of promoting the economic development of SMEs and midcaps by providing credit on preferential terms to foster job creation.
Since the beginning of the year, the EIB has granted loans for Spanish businesses totalling EUR 7.984 billion, including more than EUR 3 billion in new credit lines for financing the investment projects of SMEs and midcaps.
The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
Matilde del Valle Serrano, m.delvalle@eib.org, +352 4379 83154
EIB website: www.eib.org/press - Press Office: +352 4379 21000 - press@eib.org