The Austrian lessor Raiffeisen-Leasing has completed a €440m (£391.7m) securitisation transaction with the support of the EIB Group.
The EIB Group, which consists of the European Investment Bank (EIB) and the European Investment Fund (EIF) invested €150m in the senior notes, with ING Germany’s €250m covered by an EIF guarantee.
Raiffeisen-Leasing subscribed to the mezzanine tranche of around €40m, with the transaction arranged solely by Raiffeisen Bank International AG.
This marks EIB Group’s first public asset-backed lending transaction in Austria, after having engaged in direct lending in the country.
Raiffeisen-Leasing hopes the securitisation transaction will develop additional financing sources for small and medium enterprises (SMEs).
Alexander Schmidecker, chief executive officer of Raiffiesen-Leasing, said: “We are very pleased that we will be able to offer our SME customers leasing contracts on particularly attractive terms over the next few years.”
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Pier Luigi Gilibert, EIF chief executive, said: “The joint EIB and EIF support enables the EIB Group to increase the financing volumes for SMEs and mid-caps. I am pleased that EIF’s involvement could act as a catalyst for the participation of private investors in the transaction.”