- EIB Group to supply EUR 200m of funding to Raiffeisen-Leasing Group by means of a EUR 538m securitisation transaction
- EIB group’s funding expects to mobilise whole contemporary funding of as much as EUR 560m by Raiffeisen-Leasing
- Transaction is geared toward quick Covid-19 response with sturdy deal with local weather motion
The EIB Group, consisting of the European Funding Financial institution (EIB) and the European Funding Fund (EIF), offers funding of EUR 200m in a real sale securitisation transaction to Raiffeisen-Leasing Austria. The transaction’s AAA-rated senior asset-backed notes have been issued by ROOF AT S.A., a particular objective car (SPV) and positioned with EIB (subscribing EUR 150m) and EIF (subscribing EUR 50m) in addition to with different market funding companions. Raiffeisen-Leasing Group subscribed to the mezzanine asset-backed notes. The securitised EUR 538m portfolio consists of current leases originated by Raiffeisen-Leasing Group in its odd course of enterprise.
The transaction has been structured, organized and positioned by Raiffeisen Financial institution Worldwide AG and is a follow-up to the “ROOF Leasing Austria” securitisation transaction that was closed in 2016. The operation is geared toward supporting new lending to SMEs and Mid-Caps in Austria and is predicted to mobilise as much as EUR 560m of contemporary investments in whole. It’s anticipated to have a substantial influence on the actual economic system affected by the present Covid-19 disaster in addition to on Local weather Motion efforts, primarily within the space of mobility but additionally together with different areas the place the Raiffeisen-Leasing community is lively.
EIB Vice President Thomas Östros commented: “This transaction clearly leverages EIB Group synergies and strengthens Raiffeisen-Leasing´s capability to supply contemporary funding to SMEs and Mid-Caps at beneficial phrases within the at present troublesome setting because of the Covid-19 pandemic. It would have a big influence on the Austrian economic system by supporting roughly 25,000 jobs. I’m additionally more than happy that the transaction has a powerful focus to battle local weather motion as this is among the high priorities of the EIB, the local weather financial institution of the European Union.”
EIF Chief Government Alain Godard stated: “This follow-up transaction demonstrates the European Funding Fund’s sturdy dedication to assist SMEs and Mid-Caps to develop and create jobs, throughout Europe and particularly right here in Austria. This holds true specifically in at the moment´s troublesome financial setting because of the Covid-19 pandemic. We have to guarantee that small and medium-sized companies have entry to liquidity as they’re the spine of the European economic system.”
Raiffeisen-Leasing CEO Alexander Schmidecker added: “As a monetary providers supplier, we’ve got a accountability in these troublesome instances to assist our clients by means of the disaster with versatile financing that preserves their liquidity. On the similar time, nevertheless, it should be clear that the pandemic will move, however the local weather disaster will nonetheless be removed from resolved. That’s the reason Raiffeisen-Leasing will proceed to position a powerful deal with leasing for e-mobility and Inexperienced Property with a purpose to make new and extra sustainable applied sciences accessible to a broader public.”
Raiffeisen-Leasing is a wholly-owned subsidiary of Raiffeisen Financial institution Worldwide (RBI) and operates in Austria and overseas as a specialist establishment of the Raiffeisen Banking Group Austria. Raiffeisen-Leasing presents all types of car, gear, plane and actual property leasing, fleet administration and property growth providers.