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The transaction is structured as a cash securitisation of a granular portfolio of performing auto leases originated by VEHIS and sold to a securitisation special-purpose entity (the Issuer). The EIB purchases class A1 notes issued by the Issuer for PLN 637 million (EUR 150 million). The EIF simultaneously, through bilateral financial guarantees agreed with an institutional investor, takes exposure to class A2 notes (ranking pari passu with the A1 notes) and to the higher-risk class B notes, enabling that investor to purchase notes of a similar size to the EIB tranche. VEHIS retains credit exposure to the securitised lease exposures via a first-loss tranche.
The new lending capacity is targeted at PLN 2.6 billion of SME and Mid-Cap auto leases in Poland, with at least 30% of new financing directed to women-led businesses and at least 10% to climate action including electric-vehicle leasing. The operation also aims to support regional development by helping VEHIS reach underserved market segments and regions with below-EU-average per capita income.
private auto-leasing platform rather than a sector-targeted industrial-policy intervention; consistent with the broader 2025 wave of EIB/EIF InvestEU-adjacent guarantee and securitisation instruments across EU member states.
guarantee to a bank, as in the Portugal InvestEU Fomento-FEI case) to crowd in a third-party institutional investor via the EIF guarantee — a distinct mechanism worth tracking as a template for future EIB Group SME operations in EU accession/cohesion markets.
business) allocation floors (10% and 30% respectively) inside a commercial leasing securitisation, blurring the line between financial intermediation and targeted industrial/social policy.
is not disclosed.
billion target or the 30%/10% allocation floors once the facility ramps up.