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White & Case Advises EIB and EIF on Synthetic Securitisation of German SME and mid-cap loan portfolio originated by Deutsche Bank

Global law firm White & Case LLP has advised the European Investment Bank (EIB) and the European Investment Fund (EIF), as Guarantor, on a synthetic securitisation of a German SME and mid-cap loan portfolio originated by Deutsche Bank AG.

"This is the first cooperation between the EIB group and Deutsche Bank to complete a synthetic securitisation and falls within the new rules for simple, transparent and standardised synthetic securitisations," said White & Case partner Dennis Heuer. "The transaction is a direct response to the crisis triggered by the coronavirus pandemic and signals a major milestone in the group's continuing support of the European economy. It is also in line with Deutsche Bank's strategy to grow its market share in financing the German Mittelstand."

The transaction is structured to achieve beneficial regulatory capital treatment in compliance with Regulation (EU) 2021/557 that has introduced a simple, transparent and standardised framework for synthetic securitisations. The EIB Group's support is backed by a guarantee from the European Fund for Strategic Investment, which is the financial pillar of the Juncker Plan.

The White & Case team which advised EIF on the transaction included partner Dennis Heuer (Frankfurt) and associate Alexander Cornely (London), and the team which advised EIB included partners Ingrid York (London) and Thomas Flatten (Frankfurt) and associate Claire-Marie Mallad (Frankfurt).

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