| Project Detail |
Location:
Greece
Project number:
52766
Business sector:
Financial institutions
Notice type:
Private
Environmental category:
FI
Approval date:
12 Sep 2023
Status:
Signed
English-language PSD published:
23 Aug 2024
Investment of c. EUR 45 million in credit linked notes, issued by a newly established securitisation special purpose entity (the "Issuer"), covering the credit risk of the senior mezzanine tranche in a synthetic balance sheet securitisation of a performing mixed loans portfolio, originated by Eurobank S.A., a commercial bank incorporated in Greece (the "Originator" or "ERB").
Project Objectives
The project boosts the resilience of a systemic bank in Greece, and is subject to receipt of the ordinary terms and approvals by the competent authorities. It will allow Eurobank to achieve a risk-weighted assets relief and optimise its regulatory capital requirements, while the anticipated RWA relief will be redeployed to new on-lending to the real economy. Furthermore, the EBRD promotes resource efficiency in the country by requiring Eurobank to allocate funds in the amount of 1.5 times of the EBRDs subscription to finance green investments in renewable energy and energy efficiency. |
