EIB invests in first synthetic securitization under Juncker plan
Commerzbank has sold the first synthetic securitization to the European Investment Bank (EIB) under the European Fund for Strategic Investments, otherwise known as the ‘Junker Plan’, which aims to encourage lending and investment across Europe.
The deal transfers €90m of CLO risk to the EIB through the European Investment Fund (EIF). Under the terms of the transaction, EIF will guarantee the mezzanine debt in the securitization with Commerzbank holding the senior notes.
The guarantee provides regulatory
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