EIB and Santander sign a synthetic securitization for PLN 1,146 mln

The European Investment Bank Group, comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), has strengthened the long-term cooperation with Santander Consumer Bank Group, a part of the Santander Group, by signing a synthetic securitization and new lending commitments with Santander Consumer Bank. This is the third capital relief transaction entered into between EIB Group and SCB, with the earlier transactions being an actual sale securitization executed in 2016 and a synthetic securitization entered into in 2019.

Under the current transaction, SCB commits to, over a three-year period, provide new lending for an amount of up to PLN 1.53 billion (€327 million). Most new lending will be to SMEs, with the remainder to be to Mid-Caps and private individuals (only allowed for climate action projects), and at least 20 percent of the financing will go to projects contributing to climate action and environmental sustainability.

(WBJ)