Guarantee of EUR 33.5 m for Italy's SBS Leasing II

EIF has provided credit enhancement to a EUR 610 m securitisation of lease receivables originated by SBS Leasing (Banca Lombarda Group). The EIF guarantee commitment is for a total amount of EUR 33.5m, covering the mezzanine Class B and Class C notes (rated A1/A and Baa1/BBB, respectively). The EIF will cover any payment default of principal and interest by the issuer under the notes (debt service guarantee).

Through its involvement in SBS Leasing II, EIF will contribute to enhanced access to long-term lease financing for SMEs. Geographically, SMEs in the portfolio will be located mainly in Northern and Central Italy.