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Garanti Leasing 3 -SME Leasing Facility

Romania | Financial Institutions

Identification Code:: OP/21/0002
Total Operation Cost:: 20.000.000 EUR
Maturity:: 48 months
Operation Status:: BSTDB Approved Amount – Approval Date

20.000.000 EUR – 05 May 2021
: BSTDB Signed Amount – Signed Date

20.000.000 EUR – 06 May 2021
: Status:
Completed
Description and Purpose of the Operation:: The Facility aims to support Garanti Leasing’s activities and diversify its funding sources. The proceeds of the Facility shall be used by the Borrower exclusively for the purpose of financing new and re-financing of existing lease transactions with beneficiaries satisfying the lease transaction eligibility criteria.
Countries of Operation:: Romania (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: Established in 1998, Garanti BBVA Leasing (the brand under which the company Motoractive IFN SA operates), is an SME-focused finance lease provider, operating through its head office in Bucharest and six leasing offices across the country. The company has disbursed more than EUR 1 billion for assets under lease since its inauguration. Garanti BBVA Leasing is part of the financial-group Garanti BBVA Romania, which brings together also Garanti BBVA and Garanti BBVA Consumer Finance. Garanti BBVA Group Romania is held by Garanti BBVA Turkey, whose majority shareholder is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).
Co-Financers/Participants:: n/a
Guarantors/Sponsors:: n/a
Developmental and Regional Cooperation Impact:: The operation is expected to have favorable economic benefits for the Romanian economy, except the most relevant being additional tax revenue gains from increased economic activity under the additional amount provided. Moreover, the additional amount provided will further enhance benefits such as increases in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy in Romania. The regional cooperation element is similarly expected to be modest. Other BSTDB countries are important trade partners for Romania so to the extent SMEs benefiting from financing from the operation engage in export activities, there will be regional cooperation benefits.
Environmental Classification and Impact:: All transactions to be financed under the loan shall be subject to BSTDB’s Environmental and Social Policy.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org