EIB Group and Alba Leasing agree €1bn SME, mid-cap financing deal
The European Investment Bank and Italy's Alba Leasing have signed an agreement which will see almost €1 billion in new financial resources be made available to small and medium-sized enterprises and mid-caps.
The EIB and its subsidiary the European Investment Fund have provided the corporate leasing specialist with €490 million via a securitisation financing operation. Alba Leasing has undertaken to double this, increasing the total amount available €980 million for projects across all economic sectors, with a particular focus on environmental investments - for which 20% of the resources have been reserved.
In concrete terms, the securitisation operation concerns a portfolio of performing loans held by Alba Leasing, for which the EIB Group has subscribed senior and mezzanine securities totalling €490 million (EIB €440 million, EIF €50 million). At least two-thirds of the total will go to financial leasing investments by micro, small and medium-sized enterprises, while a third will go to mid-caps.
Around 10% of the operation (€50 million) will be covered by the Investment Plan for Europe guarantee. The final amount available will make it possible to finance up to 100% of new investments and projects, with a maximum of €12.5 million for each leasing operation.
Projects may include the purchase of plant, equipment, motor vehicles, machinery, existing or new buildings, cars and other vehicles for professional purposes. Some 8,000 Italian businesses are expected to benefit from these new resources. Green projects will be financed in the areas of energy efficiency, energy generation from renewable sources, natural resource conservation measures in specific sectors such as agriculture, livestock, public and private transport, waste collection and treatment, and operations aimed at reducing emissions and the impacts of climate change.
