White & Case advises EIB and EIF on €576m loan portfolio securitisation

White & Case has advised the European Investment Bank (EIB) and the European Investment Fund (EIF) on a loan portfolio securitisation originated by Banco Sabadell to provide €576 million to support small and medium-sized enterprises

The EIB Group via the EIF, its subsidiary specialising in venture capital for SMEs, has granted Banco Sabadell a €96 million guarantee for a loan securitisation portfolio, which will enable the Spanish bank to increase its lending capacity to offer €576 million in financing for the projects of Spanish companies, primarily the self-employed, SMEs and mid-caps.

The agreement includes a commitment to direct part of the new Banco Sabadell financing to investments promoting climate action, which is key to a green recovery following the pandemic. The financing will go to projects focusing on improving companies’ energy efficiency, driving renewable energies, refurbishing commercial buildings to reduce energy use and investments for purchasing low-emission commercial vehicles and agricultural equipment with low fuel consumption and a major environmentally friendly element.

The White & Case advised on the transaction with a cross-border team from London, Dubai, Paris and Madrid offices. The Madrid team was led by EMEA Debt Finance partner and head of the Madrid Banking group Fernando Navarro (pictured) and included Banking associate Alfonso García Freire and Debt Finance associate Raquel Singla.