“The agreement signed with Inbank today touches on an important aspect of energy transition: providing green support to private individuals. As the EU's climate bank, we actively support multiple parts of the energy transition puzzle. Our cooperation with Inbank allows us to reach private consumers to help them make the most of green transition,” said EIB Vice-President Teresa Czerwińska. “This is the EIBG's first fully green InvestEU securitisation in Poland. The complex financial architecture of the agreement showcases creative approach by the EIB and EIF seeking to get even more bang for the buck in driving green transition.”
EIF offers protection on the senior, or the least risky tranche, half of which is counter-guaranteed by the EIB;
The securitisation structure features synthetic excess spread and pro-rata amortisation of the senior tranche and the mezzanine tranche, subject to performance trigger.
“We are glad to be partnering with Inbank for their first securitisation transaction. The agreement signed today ticks several important boxes: it will inject significant new funding into the Polish economy for sustainable investment; it will have a very direct impact for private individuals. And, last but not least, it serves as a fine example of a three-way cooperation between the EIB, EIF and the European Commission that leverages innovative financial instruments under InvestEU in support the green transition,” said EIF Chief Executive Marjut Falkstedt.
The agreement will support further development of cohesion regions in Poland and contribute to the deepening of the EU's Capital Markets Union.
“This is the EIB Group's first fully green securitisation in Poland under InvestEU. The European Commission's guarantees support such innovative financial instruments to advance green investment not just by corporates but also by individuals,” said Katarzyna Smyk, Head of the European Commission Representation in Poland. “We also value cooperation between EU countries under this project.”
Inbank's new offer will primarily focus on the acquisition of solar panels and heat pumps for private households in Poland. Such projects reduce CO2 emissions, improve air quality for health benefits, support climate change mitigation and contribute to the targets of REPowerEU, an EU programme aimed at increasing strategic autonomy of the bloc by diversifying energy supply and accelerating the green transition.
“This significant risk transfer securitisation transaction is a vital step in Inbank's long-term growth strategy, enabling us to scale our operations in strategic segments with a strong focus on green financing. It not only strengthens our capital position but also empowers us to offer more competitive terms to our customers, further strengthening our market position. Our partnership with the EIB Group reinforces our commitment to sustainability while driving growth and innovation. We at Inbank are proud to lead EIBG's first entirely green securitisation in Poland with InvestEU support, accelerating the transition to renewable energy solutions both in Poland and beyond, said Inbank's Management Board Chairman Priit Pőldoja.
A securitisation is a capital relief instrument whereby part of the credit risk associated with loan portfolio is transferred to the protection seller, hence allowing the protection buyer to lend more. A synthetic securitisation is one where the protection buyer keeps the portfolio on its balance sheet.
