Investment & Fund Management
The EIB
Full Credential Description
The EIB Group has entered into a 93 million synthetic securitisation agreement with Cetelem, a commercial brand of BNP Paribas Personal Finance in Spain, aimed at enhancing energy efficiency in residential properties. This agreement is designed to mobilise 200 million for financing projects that improve the energy efficiency of homes across Spain. The initiative specifically targets 100% green projects, which include residential renovations, small-scale renewable energy installations, and the purchase of energy-efficient equipment such as high-performance boilers, insulation windows, and solar panels.
The financing will particularly benefit households in cohesion regions where income levels are below the EU average, thereby promoting social equity alongside environmental sustainability. The operation is expected to significantly reduce CO2 emissions and contribute to climate change mitigation efforts. This collaboration exemplifies the EIB Group's commitment to innovative financial instruments that unlock capital for green projects, reduce risks for financial institutions, and support the EU's capital markets union.
The transaction marks the first synthetic securitisation between Banco Cetelem and the EIB Group, with the EIF providing protection on the mezzanine tranche of 93 million, which is counter-guaranteed by the EIB. This structured approach includes features such as synthetic excess spread and a one-year revolving period, ensuring that the financing is both flexible and responsive to market conditions. The strategic alignment of this agreement with the EIB Group's priorities underscores its role in advancing climate action and sustainable housing initiatives.