Release date: 31 March 2023
Promoter – Financial Intermediary
BANCO SANTANDER TOTTA SALocation
Description
The project consists of a securitisation of a loan portfolio comprising residential mortgage backed securities of Banco Santander Totta (BST), a subsidiary of the Group. Through the EIB operation, BST will originate a new portfolio of energy efficiency loans, for high energy performing new buildings and the renovation of existing buildings undertaken by individuals and homeowners associations, and other eligible investments undertaken by small and medium sized enterprises (SMEs) and Midcaps across Portugal.
Objectives
Building upon the experience gained through prior standard operations with entities of Banco Santander across the European Union (EU) under the PPG entailing access to finance for SMEs/Midcaps, the proposed operation seeks to facilitate investments with high climate action content in Portugal through BST.
Sector(s)
- Urban development - Construction
- Industry - Construction
Proposed EIB finance (Approximate amount)
EUR 85 million
Total cost (Approximate amount)
EUR 227 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 - 24/03/2023
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).