Release date: 29 September 2023
Promoter – Financial Intermediary
BANCO SANTANDER SALocation
Description
Purchase of several tranches of a true-sale securitisation in order to stimulate lending to small and medium-sized enterprises and mid-caps.
Additionality and Impact
The main purpose of this operation is to facilitate access to finance at favourable conditions to Spanish SMEs and Mid-Caps, most of which have been impacted by the energy crisis. Santander has a good track record in allocating EIB funds to support sound projects dedicated to SMEs and Mid-Caps. EIB contribution takes the form of financial benefit and longer tenors. By providing new credit lines to SMEs and Mid-Caps via an established intermediary, the EIB can play a counter-cyclical role, preserve employment and positively contribute to the recovery of the Spanish economy. EIB investment, through a securitization, will crowd-in public and private investors.
Objectives
Financing of small/medium projects carried out by small and medium sized enterprises.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 231 million
Total cost (Approximate amount)
not applicable
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 - 19/07/2023
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).