PARALLEL TEXTS
BEI-Creval: una cartolarizzazione da 200 milioni per aumentare i prestiti alle PMI
Inglese tratto da:
http://europa.eu/rapid/press-release_BEI-14-40_en.htm
Italiano tratto da:
http://europa.eu/rapid/press-release_BEI-14-40_it.htm
Data documento: 27-02-2014
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EIB-Creval: EUR 200 million securitization facility to increase lending to SMEs
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BEI-Creval: una cartolarizzazione da 200 milioni per aumentare i prestiti alle PMI
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A total of EUR 390 million in ABS notes placed
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Collocati titoli ABS per 390 milioni totali
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To increase the resources available for Small and Medium Enterprises (SMEs) through involvement of institutional investors;
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Aumentare le risorse disponibili per le Piccole e medie imprese (Pmi) grazie al coinvolgimento addizionale di investitori istituzionali.
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this is the aim of an innovative financial operation finalized by the European Investment Bank (EIB) and the Credito Valtellinese banking group (Creval Group).
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E’ questo lo scopo di un’operazione finanziaria innovativa perfezionata dalla Banca europea per gli investimenti (BEI) e dal Gruppo bancario Credito Valtellinese (Gruppo Creval):
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The EIB has subscribed a EUR 200 million loan to Creval which will result in EUR 390 million in new financing for SMEs.
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la sottoscrizione da parte di BEI di un finanziamento da 200 milioni al Gruppo Creval il cui risultato finale è quello di fornire nuova finanza alle Pmi per 390 milioni.
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In the EIB-Creval meeting that concluded the approval procedure, held yesterday in Luxembourg, the EIB was represented by the Vice President Dario Scannapieco, who also holds the position of Chairman of the subsidiary European Investment Fund (EIF);
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Nella riunione BEI-Creval conclusiva dell’iter di approvazione, che si è tenuta ieri in Lussemburgo, la banca dell’Unione europea era rappresentata dal Vice Presidente Dario Scannapieco, che ricopre anche l’incarico di Presidente del controllato Fondo europeo per gli investimenti (FEI);
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Creval Group was represented by Miro Fiordi, the CEO of the group leader Credito Valtellinese.
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il Gruppo Creval da Miro Fiordi, Amministratore Delegato della capogruppo Credito Valtellinese.
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In detail, the operation was carried out through securitization using the special purpose vehicle Quadrivio SME 2014, which issued four different classes of Asset Backed Securities (ABS) (A1, A2A, A2B, B).
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Nel dettaglio, l’operazione è stata realizzata tramite una cartolarizzazione, attraverso il veicolo Quadrivio SME 2014, che ha emesso quattro diverse classi di titoli asset backed securities, ABS (A1, A2A, A2B, B).
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The total issue of the three senior classes amounts to EUR 390 million, with a rating of AA/AAA from Standard & Poor’s and DBRS; the EIB subscribed one of the classes (class A2A), for the amount of EUR 200 million.
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Delle tre classi senior, dotate di rating AA/AAA da parte delle agenzie Standards & Poor’s e DBRS ed emesse per un controvalore totale di 390 milioni, una dell’importo di 200 milioni è stata sottoscritta dalla BEI (classe A2A).
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This represents the first joint intervention by the EIB Group (EIB and EIF) on the ABS market, through a dual operation:
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In particolare, per la prima volta si registra un intervento congiunto del Gruppo BEI (BEI e FEI) sul mercato degli ABS, tramite un’operazione duplice:
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on the one hand, the EIB invests EUR 200 million in ABS;
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da un lato la BEI investe, appunto, 200 milioni in ABS;
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on the other, the EIF guarantees EUR 80 million in class A1 securities.
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dall’altro il FEI garantisce 80 milioni di titoli di classe A1.
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The securities benefit, thanks to the EIF’s backing, from better prudential treatment and favourable market conditions.
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Grazie alla garanzia del FEI, i titoli beneficiano di un migliore trattamento ai fini prudenziali e di favorevoli condizioni di mercato.
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In addition to the amount of the facility, the EIB’s intervention helped Creval attract investments from other institutional investors, who subscribed an additional EUR 110 million in ABS notes, thus creating new funding available for SMEs, for the cited total of EUR 390 million.
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Oltre all’importo del finanziamento stesso, l’intervento del gruppo BEI ha favorito Creval nell’attirare l’investimento di altri investitori istituzionali che hanno sottoscritto ulteriori 110 milioni di titoli ABS, creando quindi nuovi fondi disponibili per le PMI per un totale, appunto, di 390 milioni.
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"With the utilisation of a securitization structure such as this one, made possible by reduced tension on the financial markets and adopted quickly by Creval, we as the EIB group offer the banks an additional possibility beyond traditional loans.
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«Con l’utilizzo di una struttura di cartolarizzazione come questa, reso possibile dalle condizioni di minori tensioni sui mercati finanziari e che Creval è stato rapido ad adottare, come gruppo BEI offriamo alle banche una possibilità aggiuntiva rispetto ai tradizionali prestiti.
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In fact, the complementary nature of this intervention increases EIB's participation in the ABS market, with the effect of attracting new investors and increasing the overall facility available to the SMEs," commented Scannapieco.
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Infatti la complementarietà di questo intervento aumenta la partecipazione del Gruppo BEI nel mercato degli ABS, con l’effetto di attrarre nuovi investitori aumentando i plafond a disposizione delle Pmi», ha commentato Scannapieco.
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"The conclusion of this important funding operation, together with the new agreements with the EIB," stated Fiori, "adds precious resources to our continuous and robust support for Italian enterprises.
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«La conclusione di questa importante operazione di funding, insieme ai nuovi accordi con la BEI”, ha dichiarato Fiordi, “aggiungono risorse preziose al nostro continuo e robusto supporto alle imprese italiane.
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Our proximity to the local area allows us to rapidly channel resources to our clients, who consist principally of small and medium enterprises, thus maximizing the effectiveness of these tools for financing investments, which are vital for the competitiveness of the Italian production system."
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La nostra vicinanza al territorio ci consente di canalizzare rapidamente le risorse verso la nostra clientela, prevalentemente costituita da piccole e medie imprese, massimizzando l’efficacia di questi strumenti di finanziamento degli investimenti, che sono vitali per la competitività del sistema produttivo italiano».
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LISTEN WITH READSPEAKER
EIB-Creval: EUR 200 million securitization facility to increase lending to
SMEs
A total of EUR 390 million in ABS notes placed
To increase the resources available for Small and Medium Enterprises (SMEs)
through involvement of institutional investors;
this is the aim of an innovative financial operation finalized by the
European Investment Bank (EIB) and the Credito Valtellinese banking group
(Creval Group).
The EIB has subscribed a EUR 200 million loan to Creval which will result in
EUR 390 million in new financing for SMEs.
In the EIB-Creval meeting that concluded the approval procedure, held
yesterday in Luxembourg, the EIB was represented by the Vice President Dario
Scannapieco, who also holds the position of Chairman of the subsidiary European
Investment Fund (EIF);
Creval Group was represented by Miro Fiordi, the CEO of the group leader
Credito Valtellinese.
In detail, the operation was carried out through securitization using the
special purpose vehicle Quadrivio SME 2014, which issued four different classes
of Asset Backed Securities (ABS) (A1, A2A, A2B, B).
The total issue of the three senior classes amounts to EUR 390 million, with
a rating of AA/AAA from Standard & Poor’s and DBRS; the EIB subscribed one of
the classes (class A2A), for the amount of EUR 200 million.
This represents the first joint intervention by the EIB Group (EIB and EIF)
on the ABS market, through a dual operation:
on the one hand, the EIB invests EUR 200 million in ABS;
on the other, the EIF guarantees EUR 80 million in class A1 securities.
The securities benefit, thanks to the EIF’s backing, from better prudential
treatment and favourable market conditions.
In addition to the amount of the facility, the EIB’s intervention helped
Creval attract investments from other institutional investors, who subscribed an
additional EUR 110 million in ABS notes, thus creating new funding available for
SMEs, for the cited total of EUR 390 million.
"With the utilisation of a securitization structure such as this one, made
possible by reduced tension on the financial markets and adopted quickly by
Creval, we as the EIB group offer the banks an additional possibility beyond
traditional loans.
In fact, the complementary nature of this intervention increases EIB's
participation in the ABS market, with the effect of attracting new investors and
increasing the overall facility available to the SMEs," commented Scannapieco.
"The conclusion of this important funding operation, together with the new
agreements with the EIB," stated Fiori, "adds precious resources to our
continuous and robust support for Italian enterprises.
Our proximity to the local area allows us to rapidly channel resources to our
clients, who consist principally of small and medium enterprises, thus
maximizing the effectiveness of these tools for financing investments, which are
vital for the competitiveness of the Italian production system."
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