The European Investment Fund (EIF), part of the European Investment Bank Group (EIB Group), has signed a securitisation transaction with CaixaBank for a total amount of €200 million. The EIF’s support will enable CaixaBank to facilitate about €270 million in new financing for Spanish SMEs and mid-caps.
The EIF investment will be provided via a bilateral guarantee with a third-party investor. This encourages collaboration between private and public investors in the securitisation market, promoting market integration and advancing the savings and investment union, which is one of the EIB Group’s strategic priorities.
This operation shows the EIF’s role in promoting financial instruments like securitisation operations, helping to unlock capital to boost SME financing and cut the risk taken on by financial institutions.
Technical note on the transaction
The overall financial structure is an asset backed securities (ABS) transaction. The transaction’s structure features 6 classes of Notes, excess spread, pro-rata amortisation (subject to performance trigger) and a replenishment period of 13 months.
Background information
EIB Group
The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.
The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees, securitisation and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.
In 2023, the EIF together with six Member States (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund-of-funds to scale up innovative startups. To date, this initiative has already enabled the creation of 15 European venture capital mega-funds and scaled up 45 companies, including 12 unicorns (with more than €1 billion in capital).
Photos of the EIB Group's representatives and headquarters, logo files and video B-roll for media use are available here.