Market updates and sector developments

The EIB Group has signed its first true sale securitisation in France in more than 15 years, in support of BNP Paribas’s commitment to provide €627m of financing for home energy efficiency equipment.

The deal sees the European Investment Bank contributing €400m and the European Investment Fund providing a further €50m. The investors will take senior and mezzanine tranches of securities backed by a consumer portfolio originated by BNP Paribas Personal Finance.

Private investors have also agreed to invest €24m in the junior tranches.

The transaction will enable BNP to supply the €627m over a three-year period, with deployment particularly targeted at the installation of high-performance boilers, insulation, windows and solar panels.

BNP Paribs CIB acted as strategic advisor on the transaction.