As stated by the EIB, the operation consists in a guarantee to a mezzanine tranche of a synthetic Residential Mortgage-Backed Security (RMBS) promoted by Banca Nazionale del Lavoro (BNL) on a granular portfolio of residential mortgages. The free-up capital will allow the intermediary to generate new loans to on-lend to small and medi-sized enterprises (SMEs) and mid-caps in Italy.

The aim is to enhance access to finance for the specific market segment. More specifically, the guarantee will enable BNL to generate a new portfolio of loans to support working capital and investments needs of the target beneficiaries. Additionally, 30 % of the new loans will finance projects in the agriculture and bioeconomy sectors, including projects focused on energy efficiency, renewable energy production and the reduction of natural resource usage. Finally, the operation will bring a positive economic and social impact nationwide since the intermediary will deploy 50% of the new portfolio to the benefit of SMEs and Mid-caps operating and/or domiciled in eligible Cohesion Regions, namely in Southern and Insular Italy.

As stated by the EIB, BNL BNP Paribas has been in business for over 110 years and is one of the leading Italian banking groups, operating nationwide. It offers a wide range of products and services to meet the multiple needs of its customers (private, corporate and public administration). Since 2006, BNL has been part of the BNP Paribas Group, which is present in 64 countries, employing around 178 000 staff members, including some 145 000 in Europe, where it has four domestic markets: Belgium, France, Italy and Luxembourg. 

No project contacts provided at the time of disclosure.

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