New operation for Unibelievet.
In recent days, the Milanese bank led by Andrea Orcel concluded a securitization of a portfolio of consumer loans the value of 750 million euro. The operation was possible thanks to theinvestment of European Investment Bank (EIB) from European Investment Fund (EIF).
Il additional credit will support the investments and working capital needs of the small and medium-sized businesses and of companies MidCap Italian.
Le senior and mezzanine tranches of the notes (which have received ratings from the DBRS and Moody's agencies) issued by the securitization vehicle were bought by the EIB for a total value of 700 million euros e from the EIF for a further 50 million against theUniCredit commitment to disburse additional credit for an equal amount to Italian small and medium-sized enterprises and mid-cap companies over the next 36 months.
I subsidized loansand minimum duration of 24 monthsi, can be used by companies to support investment projects or for their working capital.
A part, no less than 30%, is intended to finance initiatives aimed at supporting the adoption by businesses of more sustainable business models from an environmental point of view.
SMEs are the engine of the economy
"The small and medium-sized enterprises play a key role in promoting green and innovative investments. Thanks to the excellent relationship between the EIB Group and UniCredit, further consolidated thanks to this operation, SMEs and MidCaps in Italy will be able to benefit from subsidized loans to invest in their future” he commented Jasmine Vigliotti, Vice-President of the EIB and President of the EIF.
"The SMEs are the engine of our economy and it is our responsibility to help them grow and support them in the ecological transition process. These new loans bear witness to our ongoing commitment to this, made even stronger by our long-standing partnership with the EIB Group. These funds will be able to form for businesses a concrete support to continue to effectively serve their customers and the communities in which they operate,” he added Remo Taricani, Deputy Head of UniCredit Italy.
In the last year, thanks to the collaboration with the EIB Group (EIB and EIF) and in line with the capital efficiency objectives identified in the plan “UniCredit Unlocked”, Unicredit has produced five important securitizations which have allowed it to make additional credit available to companies in the countries where it operates.
The collaboration between UniCredit and the EIB Group in the two-year period 2021-2022 alone has made it possible to mobilize financial resources of over 10 billion euro in favor of companies.
