Loan Invest NV/SA (Compartment SME Loan 2020): 18 July 2020
The transaction is a static cash flow securitisation of a portfolio of secured and unsecured loans which have been originated by KBC Bank NV to Belgian small and medium-size enterprises.
The provisional pool (as at 30 June 2020) consisted of 29,001 loans extended to 16,661 borrowers. The portfolio consists of 54.3% secured loans and 45.6% unsecured loans. The average outstanding balance per borrower is Eur279,392. Repayment type (by current balances): French – 64.76%, Linear – 30.53% and Bullet – 4.71%. Industry type: Services – 39.62%, Real Estate – 13.21%, Distribution – 11.54% and Agriculture – 6.09%. Regional concentration: Flanders – 87.82%, Brussels – 8.13% and Wallonie – 4.05%.
EU Risk Retention: The Seller has undertaken to retain a material net economic interest of not less than 5% in the securitisation transaction in accordance with Article 6 of Regulation (EU) No 2017/2402 of the European Parliament and of the Council of 12 December 2017. As at the Closing Date, such interest will be comprised of an interest in the first loss tranche and, if necessary, other tranches having the same or a more severe risk profile than those sold to the investors.
Compare/contrast: Loan Invest NV (Compartment SME Loan 2017)