Credit enhancement guarantee of EUR 34.2m for Maestrale (Italy)

The EIF has agreed to provide a guarantee of EUR 34.2m to Maestrale S.r.l (an Italian SPV): EUR 25 m of senior tranche (Class A notes) and EUR 9.2 m of mezzanine tranche (Class B notes). The originator of the deal is Commercio e Finanza Leasing & Factoring SpA, and the total portfolio of lease receivables to be securitised amounts to EUR 241.8m.

In the current transaction, EIF would for the first time support a securitisation of SME lease receivables where most of the lessees are domiciled in the South of Italy, which is classified as an "Objective 1" region. This regional diversification of the EIF guarantee portfolio within Italy is fully in line with the EUâ¬"s policy for regional development.