Banco Sabadell originates EUR 576 mln SMEs loan portfolio securitisation

Friday 11 September 2020 12:13 CET | News

Banco Sabadell has originated a loan portfolio securitisation to provide EUR 576 million to support small and medium-sized enterprises (SMEs).

The EIB Group is joining forces with Banco Sabadell to support SMEs that were negatively affected by the economic impact of the coronavirus. The EIB Group via the EIF, its subsidiary specialising in venture capital for SMEs, has granted Banco Sabadell a EUR 96 million guarantee for a loan securitisation portfolio, which will enable the Spanish bank to increase its lending capacity to offer EUR 576 million in financing for the projects of Spanish companies, primarily the self-employed, SMEs and mid-caps.

The agreement includes a commitment to direct part of the new Banco Sabadell financing to investments promoting climate action, which is key to a green recovery following the pandemic. The financing will go to projects focusing on improving companies’ energy efficiency, driving renewable energies, refurbishing commercial buildings to reduce energy use, and investments for purchasing low-emissions commercial vehicles and agricultural equipment with low fuel consumption and a major environmentally friendly element.

The agreement was signed under the Investment Plan for Europe. Its support enables the EIB Group to expand its capacity to finance investment projects that have a higher risk profile owing to their structure or nature. Estimates indicate that this operation will make it possible to support more than 1,400 companies employing around 79,000 people.

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Keywords: Banco Sabadell, SMEs loan, financing , loan securitisatio
Categories: Banking & Fintech
Countries: Spain
This article is part of category

Banking & Fintech