EIB Group, Santander boost Polish SMEs amid COVID-19 outbreak

Region:

Europe

The European Investment Bank Group has signed the third synthetic securitisation transaction with the Santander Bank Polska Group.

The operation aims to support the working capital and liquidity needs of SMEs and mid-caps in Poland amid the COVID-19 outbreak.

The EIB Group - comprising the European Investment Bank and the European Investment Fund - will guarantee a mezzanine tranche of PLN284 million (about€64 million) and a senior tranche of PLN1.7 billion (about €380 million) in a synthetic securitisation transaction. The underlying portfolio is a granular portfolio of leasing receivables originated by Santander Leasing S.A., a wholly owned subsidiary of Santander Bank Polska S.A.

Thanks to the capital released through the transaction, Santander Leasing will provide approximately PLN 2.8 billion of new funding to eligible beneficiaries.

Like the two previous transactions in 2018 and 2019, the operation is supported by the European Fund for Strategic Investments.

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