Pérez-Llorca advises EIF on securitisation of Aquisgrán

Pérez-Llorca has advised the European Investment Fund on the securitisation of Aquisgrán

pjimage 2022 01 14T111935.972Pérez-Llorca has advised the European Investment Fund (EIF) on the securitisation of a portfolio of loans granted by Aquisgrán, to small and medium-sized companies. These loans originated and are guaranteed by reciprocal guarantee companies (SGR-CESGAR) and benefiting of a counter-guarantee from the Spanish Rebuilding Company (CERSA).

Initially, Banco Caminos will provide the financing and later, up to €150 million in securitisation bonds will be issued, which will be progressively subscribed by the ICO, backed by a bilateral guarantee from the EIF.

A spokesperson said: “This innovative operation has allowed the reciprocal guarantee companies, SGR-CESGAR, to gain access to the capital markets for the first time and to fully create this financial product, which has become the first securitisation fund of these characteristics in Europe.”

The spokesperson added: “Aquisgrán is a pioneering initiative that will allow Spanish SMEs to access capital markets, expanding and diversifying their sources of financing. Aquisgrán aims to improve access to credit for Spanish SMEs and the self-employed, diversifying their sources of financing beyond the traditional banking channel, and raising funds in the fixed income market. Likewise, one of the fund’s priorities will be to support investments in SMEs that promote climate sustainability, the promotion of which is a fundamental objective for the EIF.”

The Pérez-Llorca team that advised on this operation was led by Carlos Pérez Dávila (pictured left), partner of Banking and Finance, and Antonio Arenas (pictured right), lawyer from the same practice.

Pérez-Llorca advises EIF on securitisation of Aquisgrán

Michael Heron

iberianlawyer.com

Iberian Lawyer, is a monthly digital magazine, published by LC Publishing, available in Spanish and English. It represents the main source of information in the legal business sector in Spain and Portugal. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Lawyer
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram