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€1 billion for SMEs and mid-caps from EIB Group and Alba Leasing

Christian Fernsby ▼ | October 19, 2020
€1 billion in new financial resources will be made available to small and medium-sized enterprises (SMEs) and mid-caps thanks to an agreement between the European Investment Bank (EIB) Group and Alba Leasing.
EIB Group
Alba   EIB Group
The EIB and its subsidiary the European Investment Fund (EIF) have provided the corporate leasing specialist with €490 million via a securitisation financing operation.

Topics: EIB

Alba Leasing has undertaken to double this, increasing the total amount available to almost €1 billion (€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 (fewer than 250 employees), while a third will go to mid-caps (up to 3 000 employees).

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.

8 000 Italian businesses are expected to benefit from these new resources.