📋 Tender Overview
Reference: 20210715
Release date: 17 December 2024
Promoter – Financial Intermediary
DNB BANK ASA
Location
Norway
Sweden
Denmark
Finland
Description
Synthetic securitisation guarantee covering an existing portfolio of assets in order to generate new lending to final recipients with a particular focus on climate action.
Additionality and Impact
This transaction is the first mezzanine synthetic securitisation operation eligible under the Sustainability Infrastructure Window (SIW), notably under the relevant General Debt financial product, and its scope is in line with the relevant Lending Envelope INVESTEU GREEN SECURITISATION LE (2023-0564), approved by the CA on December 2023. In particular, the project is aligned with the specific ANNEX I-A art. 5, MPPA 1.7 "Investments in Green Assets and related assets". The proposed securitisation operation will generate additional lending capacity in support of financing of green small and medium scale projects undertaken by SMEs and Mid-Caps in Norway, Sweden and Denmark. As such, it falls under the scope of EU objectives through its contribution to job creation and to increased competitiveness and productivity of SMEs and Mid-Caps. Moreover, in line with the InvestEU Green Secularisation target, 100% of the resulting investments are intended for Climate Action & Environmental Sustainability, which will accelerate the green transition of the economy. Building on the Intermediary's strong track record and long-standing experience, it is expected that EIB funds be utilised in an efficient and timely manner. Thanks to the EIB's financial contribution in terms of Financial Value Added, the Intermediary will be able to provide financing to final beneficiaries at improved conditions. This would represent the first "Green Securitisation" synthetic transaction ever in Norway and the first-of-this-kind operation in Europe under InvestEU. The EIB would not be able to provide such type of support, or not to the same quantum, without the InvestEU guarantee.
Objectives
The purpose of this project it to support small and medium-sized enterprises (SMEs) and mid-cap lending with an envisaged climate action and environmental sustainability ("CA&ES") contribution in Sweden and Norway, not excluding other EU countries.
Sector(s)
Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
NOK 1150 million (EUR 101 million)
Total cost (Approximate amount)
NOK 3220 million (EUR 284 million)
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 19/11/2024
