Raiffeisen-Leasing completes €440m securitisation

The deal sees the EIB participate in its first public asset-backed securitisation in Austria, with Raiffeisen aiming to lend more to SMEs.

The EIB Group, through the European Investment Bank and European Investment Fund (EIF), has supported Raiffeisen-Leasing’s €440 million securitisation deal.

The transaction saw the EIB invest €150 million and ING Germany €250 million in the senior notes, with ING Germany’s tranche covered by an EIF guarantee.

Raiffeisen-Leasing subscribed to a €40 million mezzanine tranche and the transaction was structured, arranged and placed by Raiffeisen Bank International as sole arranger.

The deal was the first public asset backed securitisation (ABS) in which the EIB has participated in Austria.

Raiffeisen-Leasing said the transaction would enable it to develop additional sources of financing for small and medium-sized enterprises. “We are very pleased that we will be able to offer our SME customers leasing contracts on particularly attractive terms over the next few years,” said the firm’s chief executive officer Alexander Schmidecker.

“Improving access of small and medium-sized businesses to affordable finance is one of the priorities of the EU bank,” added Ambroise Fayolle, EIB vice president responsible for lending in Austria. “This includes making greater use of the securitisation market in Europe.”

The EIB is the long-term lending institution of the European Union, owned by the member states. The EIF is part of the EIB and helps Europe’s SMEs to access finance.

Raiffeisen-Leasing is a specialist group within Raiffeisen Banking Group which offers vehicle, equipment, aircraft and real estate leasing products, as well as fleet management and property development services.