BME's fixed income market, MARF, has admitted to trading a new EUR 200 million bond issuance programme of the Pensium ESG I Securitisation Fund. The new programme will allow Pensium Direct, the Fund's transferor, to access the fixed income markets in a flexible manner to finance its activity and growth.
The assets of Pensium ESG I consist of claims arising from loan agreements entered into between the transferor and its clients, individuals with a degree III of high dependency or degree II of severe dependency, with the objective to enable them to access private homes for the elderly or to pay for care services in the home of a family member or a relative. As security for the loan agreements, the customers and/or their relatives grant guarantees on a property by virtue of which Pensium Direct acquires the right to receive its monthly rent, which will be applied to the payment of interests and the capital of the loan granted.
EBN Titulización, SGFT participates as a Registered Advisor in the MARF and is the Management Company of the Securitisation Fund. EBN Banco de Negocios will be the Placement Entity of the bonds and its Paying Agent. Gómez-Acebo & Pombo has acted as legal advisor in the incorporation of the Fund.
EthiFinance Rating has assigned a BBB- rating to the bonds to be issued by the Securitisation Fund.
Pensium Direct has a proactive ESG approach, with an ambitious stance on ESG and has integrated sustainability into its business activities. European Quality Assurance Spain conducted an assessment on Pensium Direct's Social Finance Framework of February 2022 in order to verify its alignment with the Social Bond Principles of the International Capital Markets Association (ICMA) and the Social Lending Principles of the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications and Trading Association.
EBN Titulización is a Securitisation Fund Management Company registered in the Special Register of Securitisation Fund Management Companies of the CNMV. Its corporate purpose is the constitution, administration and legal representation of securitisation funds and derived from the banking sector funds. It currently manages funds that incorporate invoices, loans, credits or other types of assets in their balance sheet.