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.”
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.”