- Public-private collaboration and the use of securitizations to give SMEs access to capital markets are two keys to increasing their competitiveness
BME’s fixed-income market, AIAF, has admitted to trading a Santander securitization fund backed by the EIB Group, through its subsidiaries the European Investment Bank (EIB) and the European Investment Fund (EIF). This securitization seeks to increase the supply of financing for SMEs and midcaps in Spain by 1.43 billion euros. The operation is in line with the objectives of the EU’s Savings and Investments Union (SIU).
The EIB will invest approximately 476 million euros and the EIF 400 million euros, together with other private sector investors. The EIF’s investment is made through a guarantee embedded in the class A2 notes. This is the first securitization transaction carried out in Spain with a guarantee embedded directly in the securitization notes.
This operation will enable Santander to mobilize around 1.43 billion euros in loans to drive the green transition and the competitiveness of SMEs and midcaps in Spain, job creation, and the retention of human capital.
“We welcome this new securitization, which very well represents the direction to follow. Public-private collaboration and better access to capital markets for SMEs are among the OECD’s recommendations to boost the competitiveness of capital markets in Spain. Promoting securitizations of SME loans is one of the initiatives being advanced in the working groups in which BME participates together with the CNMV and other stakeholders to strengthen capital markets in Spain. We work from the conviction that solid securities markets are the best ally for business growth, social well-being, and the smooth running of the economy as a whole,” explains Susana de Antonio, head of primary markets at BME.
In 2025, BME’s Fixed Income markets recorded 16.88 billion euros in securitizations, representing growth of 8.9% compared to the previous year. As of the end of June 2026, the amount recorded so far this year stands at 8.632 billion.
You can find more information about BME’s fixed-income markets on its website.