Landmark portfolio guarantee inked

Pic© Gilad Rom

Category: Capital Relief Trades ABS


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The EIF has agreed to guarantee 50% of a €5.52bn Spanish SME credit portfolio originated by nine Spanish banking groups. Dubbed the SME Initiative Uncapped Guarantee Instruments (SIUGI) for Spain, the deal is a bespoke EU-sponsored risk transfer transaction (see SCI's capital relief trades database).

Under the agreement, the EIF enters into bilateral financial guarantees with each of the participating financial institutions - Banco Cooperativo Español, Banco Popular, Banco Sabadell, Banco Santander, Bankia, Bankinter, CaixaBank, Ibercaja and Liberbank.

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