GSK Stockmann provided comprehensive legal advice to Mediocredito Centrale S.p.A. (MCC) in relation to a guarantee agreement with the European Investment Fund (EIF).
The guarantee is a structured finance product whereby MCC will establish an up to EUR 50,000,000 portfolio of loans to be granted to Italian small medium enterprises (SMEs) in the course of 2022, and the EIF will guarantee payments under the loan portfolio, thus increasing the financing capacity of MCC.
The uncapped guarantee benefits from the support of the Pan-European Guarantee Fund, established by certain Member States of the European Union to respond to the economic impact of the COVID-19 pandemic outbreak.
The guarantee agreement is governed by the Luxembourg law of 10 July 2020 on professional payment guarantees, a new Luxembourg law which facilitates the set-up of structured finance products in the form of guarantees.
MCC is an Italian bank specialized in medium-term loan to companies, in particular SMEs based in central and south of Italy.
Legal advisers of MCC:
GSK Stockmann (Luxembourg law): Valerio Scollo (Securitisation & Structured Finance, Lead); Julia Kaalikoski (Associate, Securitisation & Structured Finance).