Largest Greek non-bank ABS sees EIF investment

By Tom Brown
06 Oct 2020

The European Investment Fund has subscribed to €43m of an electric and hybrid car lease ABS from rental care company Avis, which has raised €130m via Cronus Finance, the largest non-bank Greek securitization issued to date.

Two other supranationals also subscribed to the deal, with the European Bank for Reconstruction and Development taking €37m and a Dutch institutional investor taking €50m, guaranteed by the EIF.

Avid is using the proceeds to restock its fleet of electric and hybrid vehicles, qualifying as a sustainable finance ...

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