Date de publication: 17 mars 2021
Promoteur – Intermédiaire Financier
PIRAEUS FINANCIAL HOLDINGS SALieu
Description
Risk-sharing instrument deployed under the European Guarantee Fund (EGF) for the support of mid-caps and large corporates in Greece that are active in sectors that are in line with the EIB's long-term mission (innovation, environment and intermediated support for small and medium-sized enterprises (SMEs)) and have been affected by the COVID-19 pandemic.
Additionality and Impact
The proposed operation consists of a guarantee in favour of Piraeus Bank covering up to 75% of the loan-by-loan losses that may incur in a portfolio of financings to eligible MidCaps and large corporates in Greece. By addressing the underlying market failure in access to finance faced by companies due to information asymmetries and higher screening costs for smaller investments, which has been exacerbated due to the impact of COVID-19, the operation is fully in line with EU, the Bank's, as well as the Hellenic Republic's strategic objective to support uninterrupted access to finance and liquidity for enterprises. The guarantee will offer credit loss protection and capital relief to Piraeus Bank on the portfolio to be covered. This would allow for the creation of additional headroom in the bank's balance sheet and increase in its credit risk appetite, which would be reflected in the benefits passed to final beneficiaries and which would take the form of reduced pricing, higher volumes of financing, access to finance for clients that in the absence of the guarantee would not be possible, lower collateral requirements.
Objectifs
Improve access to finance for companies in Greece and, namely, at beneficial terms, through the provision of capital relief and credit loss protection to Piraeus Bank on a portfolio of new eligible transactions.
Secteur(s)
- Lignes de crédit - Lignes de crédit
Montant BEI envisagé (montant approximatif)
EUR 225 million
Coût total (montant approximatif)
EUR 735 million
Aspects environnementaux
Final beneficiaries will be required to comply with the applicable national and EU legislation, as appropriate.
Passation des marchés
Final beneficiaries will be required to comply with the applicable national and EU legislation, as appropriate.
Statut
Signé - 21/12/2021
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).