EIB participates in securitisation transaction of UniCredit Leasing Austria with EUR 230.9 mil
- European Investment Bank (EIB) invests EUR 230.9 million in UniCredit Leasing Austria’s
"Success 2015" ABS transaction
- Customers will benefit from the advantage of low-cost funding
- Under the cooperation arrangement with the EIB, UniCredit Leasing Austria and Bank Austria will make available to SMEs a total of EUR 230.9 million in medium-term and long-term lease financing and loans on attractive terms in the next two years
- Bank Austria and UniCredit Leasing Austria are thereby supporting the EIB’s policy objective while motivating businesspeople to take advantage of favourable terms and conditions for investment projects
- The transaction opens the securitisation market for SME finance in Austria
The European Investment Bank (EIB) will make available EUR 230.9 million to UniCredit Leasing Austria through the purchase of asset-backed securities (ABS). The "Success 2015" ABS transaction was arranged by UniCredit Bank Austria AG and Munich-based UniCredit Bank AG. The EIB invests in the senior tranche, which has an AAA rating from Fitch and DBRS. UniCredit Leasing Austria will take the junior tranche (class B) in the amount of about EUR 94.4 million on its books. The secured portfolio comprises motor vehicle leasing agreements (59 per cent) and other leased assets (41 per cent). The transaction, concluded in Luxembourg on Friday, 20 November 2015, does not involve any changes for the lessees.
This is the first ABS transaction in which the EIB and UniCredit Leasing Austria cooperate. The funds available to UniCredit Leasing Austria as a result of the purchase of securities by the EIB will be directly used for strengthening new business. Under the cooperation arrangement with the EIB, UniCredit Leasing Austria has undertaken to grant medium-term and long-term lease financing, mainly to SMEs, with attractive funding for a total amount of EUR 230.9 million within the next two years.
Helmut Bernkopf, member of Bank Austria’s Management Board with responsibility for retail and corporate customers: "We are very pleased that the EIB’s participation in this transaction will enable us to offer lease financing and also loans to SMEs totalling EUR 230.9 million on particularly favourable terms and conditions in the next two years. Bank Austria is thereby making available additional financing opportunities to companies, once more underlining its leading position as a lender in Austria. Moreover, this transaction will contribute to wider opening the securitisation market for financings of small and medium-sized businesses in Austria."
EIB Vice-President Ambroise Fayolle commented: "I very much welcome the fact that EIB funds will improve access to credit for SMEs and mid-cap companies active in number of productive sectors, such as manufacturing, in Austria. The improved access of these companies to long-term finance is vital for the development of the Austrian economy in terms of job creation and growth. Together with UniCredit Leasing Austria, the EIB is extending the funds needed to accomplish priority projects fostering the competitiveness of the Austrian economy."
Günther Populorum, CEO of UniCredit Leasing Austria, adds: "We will use the funds from the EIB to actively support projects of SMEs. By offering particularly attractive terms we want to motivate Austrian businesspeople to take advantage of the favourable conditions for investments."
UniCredit Bank Austria Media Relations
Martin Kammerer, tel.: +43 (0) 5 05 05 52803;