SCF ITALY LOAN SMES & MIDCAPS

Promoteur – Intermédiaire Financier

SANTANDER CONSUMER BANK SPA

Lieu

• Italie

Description

The loan will support small and medium-sized enterprises (SMEs) and mid-caps affected by the COVID-19 pandemic. At least 70% of the loan will be allocated to SMEs investments and 30% to mid-caps.

Additionality and Impact

The proposed transaction consists of an ABS operation, in the form of a loan-substitute, with Santander Consumer Bank SpA, the Italian Subsidiary of Santander Consumer Finance, which is well-known to the Bank and a financially solid promoter.

The proposed financing operation is aiming to support and increase the SME access to finance in the aftermath of the Covid19 crisis. The quick mobilization of SME financing is strategic considering their high contribution to the country's economic growth and to sustain the employment.

The operation will provide Italian SMEs and MidCaps with an alternative source of finance to the standard bank loans, as a significant portion of the on-lending through Santander Consumer Bank is expected to be instrumented through leases, i.e medium term rental agreements for the use of specific equipment, including new vehicles.

The proposed operation addresses a market failure related to SMEs and Midcaps 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-industrialization.

Objectifs

The aim is to enhance access to finance for the target beneficiaries.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 484 million

Coût total (montant approximatif)

not applicable

Aspects environnementaux

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 28/09/2021