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Minerva closed

Category: Capital Relief Trades ABS

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Innovative guarantee completed

Banca Nazionale Del Lavoro has closed a €100m mezzanine guarantee with the EIF. Dubbed Minerva, the transaction was completed with funds from the European Fund for Strategic Investments (EFSI) and is expected to release €600m for lending to Italian SMEs. The guarantee is the first SRT transaction that the EIB Group has executed for Italian corporate loans and includes novel features, such as pro-rata amortisation and excess spread.

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