According to the EIB, the project concerns a multi-beneficiary intermediated loan to provide additional loans to small and medium sized enterprises and MidCaps in Portugal in eligible industry and services sectors. A minimum 70% of the loan will be used to finance SMEs.
In detail, the financial operation consists in purchasing investment grade tranches of a true sale securitistion of consumer loans.
From the company's website:
Santander began its activity in Portugal in 1990 when it acquired a significant stake in Banco de Comércio e Indústria, but it was not fully consolidated until 1999, when it bought a significant stake of the Totta e Açores financial group and Crédito Predial Português. The merger of the Group's three commercial banks (Totta, Crédito Predial and Santander Portugal) gave rise to Banco Santander Totta. Subsequently, Banco Popular’s business in Portugal was integrated in 2017.
No project contacts available at the time of disclosure.
Financial Intermediary - Banco Santander Totta SA:
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