For the third time since 2017, the EIB Group — the European Investment Bank (EIB) and the European Investment Fund (EIF) — and BNP Paribas are launching a synthetic securitisation to support French companies.

The transaction consists of an EIB Group guarantee on an existing portfolio of loans granted by BNP Paribas to French small and medium-sized enterprises (SMEs) and mid-caps.

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The guarantee enables BNP Paribas to free up part of the regulatory capital allocated to this portfolio and to deploy €515m in new loans to SMEs and mid-caps in France over the next two years.

These new financing operations could be bank loans or leasing transactions. The on-lending arrangement granted by the EIB will allow beneficiaries to enjoy enhanced preferential financial conditions. 

Marguerite Bérard, head of French retail banking of BNP Paribas and member of the executive committee, said: “With the success of previous transactions with the EIB Group, we are thrilled to be able to commit to making €475m in new financing available to SMEs and mid-caps at reduced rates over the next two years. 

“This financing comes in addition to our many support schemes for corporate clients designed to accommodate, as closely as possible, the local economic reality. With a view to helping our customers accelerate their energy transition, enhancing the financing conditions for sustainable assets is one part of a long-standing BNP Paribas approach, which includes the use of impact financing.”

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EIB vice-president Ambroise Fayolle said: “With this, their third joint securitisation since 2017, the EIB and BNP Paribas are continuing their efforts to facilitate access to finance for SMEs and mid-caps. Financing these entities is an EIB priority — one to be achieved by working with our banking partners to develop attractive credit solutions that help sustain business operations and support investment.”

EIF chief executive Marjut Falkstedt said: “The EIF is pleased to be working with BNP Paribas to use our securitisation tools to provide additional resources to SMEs and mid-caps. The BNP Paribas group is a long-standing and trusted partner for the EIF, enabling it to provide effective support to French companies in their search for financing for their investments.”

EIB posts record support for energy transition in 2022