Santander Sets Up SME Financing Platform
12 December 2019 - 9:57PM
Dow Jones News
By Cristina Roca
Banco Santander SA (SAN.MC) said Thursday that it has set up a
financing platform for small and medium enterprises in Spain and
will provide up to 900 million euros ($994.9 million) in private
debt.
The Spanish lender said the new platform, which will be called
Tresmares Capital, is being created mainly for companies with
earnings before interest, tax, depreciation and amortization of
EUR1 million-EUR7 million.
Tresmares will work separately under the bank's governance, and
the EUR900 million private debt fund will be backed by Santander's
balance sheet, the bank said.
A private equity investment fund worth EUR175 million, in which
Santander will hold 40%, will also be set up, Santander said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
December 12, 2019 05:42 ET (10:42 GMT)
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