SABADELL ENHANCED SUPPORT SMES&MIDCAPS ABS II

Promoteur – Intermédiaire Financier

BANCO DE SABADELL SA

Lieu

• Espagne

Description

The operation consists in the purchase of a mezzanine tranche of a true-sale securitisation to stimulate lending to small, medium sized businesses and midcaps. This is a sub-operation presented under the EU Programme Loan for ABS Operations (2022-0538).

Additionality and Impact

The operation will help address the working capital, liquidity needs, and investment constrains of SMEs and Midcaps in Spain during a period of economic uncertainty. The challenges faced include elevated interest rates, core inflation, subdued domestic consumption, energy security issues and the ongoing war in Ukraine.

The economic impacts are widespread, as value-chains have been disrupted and consumer demand has slowed down. SMEs and Midcaps are facing financial stress and bankruptcies and without addressing their short-term liquidity and investment needs, the adverse economic effects could be long-lasting

The project is therefore eligible under Article 309 point (a) projects for developing less developed regions and point (c) common interest.

Objectifs

The Multi-beneficiary intermediated loan (MBIL) to Banco de Sabadell aims to support investments promoted by the target beneficiaries.

Secteur(s)

• Lignes de crédit - Lignes de crédit

Montant BEI envisagé (montant approximatif)

EUR 35 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 - 24/09/2024