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INTESA SANPAOLO PROVIDES ADDITIONAL CREDIT FOR SMES THROUGH A NEW EIB GUARANTEED SECURITISATION

 

  • New synthetic securitisation of approximately 2 billion euro is guaranteed by the EIB Group
  • ·The additional resources will be made available for the digital and sustainable development of SMEs and production chains through new loans at more favourable conditions

Milan, 13 October 2020 - Intesa Sanpaolo, in collaboration with the EIB Group, has launched a new synthetic securitisation of a portfolio of loans amounting to approximately 2 billion euro under the GARC (Gestione Attiva Rischio di Credito - Active Credit Risk Management) programme.

The operation, which was launched together with the European Investment Fund (EIF) and the European Investment Bank (EIB) and organised by Intesa Sanpaolo's Active Credit Portfolio Steering team, is designed to provide new loans at favourable conditions for the Group's SME and micro-enterprise customer base. With this operation, the Bank continues with its efforts to support businesses affected by the emergency caused by the Covid-19 epidemic: the resources made available through the EIF guarantee on the mezzanine tranche will be used to provide new loans to SMEs, including micro-enterprises.

The initiative is primarily intended for investments by businesses involved in the production chains and to support investments in digitisation and sustainability, in order to support the relaunch of the country's productive economy.

This will allow businesses to access new loans for a total amount of 450 million euro, of which 100 million have already been stipulated at particularly favourable conditions. The new loans may also be granted in combination with the government decree measures issued to address the pandemic emergency with guarantees from the Central Fund and Sace.

Intesa Sanpaolo supports production chains and supply chain suppliers through its innovative approach to assessing creditworthiness and therefore access to credit through its Sviluppo Filiere Programme - which was conceived at the end of 2017 to ensure the development of the country's production system - by leveraging supply chains which are often made up of outstanding small and medium-sized enterprises, which contribute to making Made in Italy products stand out throughout the world.

Regarding sustainability, the Bank recently launched a new medium/long-term financing instrument called s-Loan. This new instrument was specifically designed to support companies' efforts to achieve greater environmental, social and corporate governance sustainability, enhancing dedicated investments by identifying shared ESG performance indicators.

The securitisation announced today forms part of Intesa Sanpaolo's dynamic credit risk management initiatives, which aim to optimise the bank's resources and boost access to credit for SMEs through capital markets.

Stefano Barrese, head of the Banca dei Territori Division of Intesa Sanpaolo states: "Companies that intend to invest in innovation, sustainability and quality today need new loans and it is up to the bank to find the best tools for making these new resources available to them. Thanks to our long-standing collaboration with the EIB Group and our dedicated structures, we can now provide new additional loans on more favourable terms to support our SMEs and micro-enterprises. Against this new backdrop, being part of a supply chain will be fundamental for many businesses: Intesa Sanpaolo's Filiere Programme already involves 700 large companies in Italy along with their 16,000 suppliers and enables a growing number of companies to work together to address the emerging demands brought on by the pandemic crisis".

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