The European Investment Bank Group (EIB and EIF) and BBVA are joining forces once again to support working capital and liquidity needs, as well as to cover the investment constraints of Spanish small and medium-sized enterprises (SMEs) affected by the COVID-19 crisis. To this end, the European Investment Bank (EIB) and the European Investment Fund (EIF) will guarantee a junior tranche of a €120 million synthetic securitisation of an SME and small mid-cap loan portfolio originated by BBVA, enabling the Basque bank to provide more than €960 million of financing to support SME investments.
The EIB Group (EIB and EIF) is set to grant a guarantee of up to €120 million to BBVA, enabling the Spanish bank to channel more than €960 million into the real economy. The operation aims to secure working capital and liquidity needs, as well as to facilitate access to finance for eligible companies on favourable terms. The guarantee covers the first loss piece in a synthetic securitisation structure under the European Guarantee Fund. The European Investment Bank Group (EIB and EIF) and BBVA are joining forces once again to support working capital