Alternative Leasing, FIL
Proceeds from a JV between LB Oprent S.A. (originator and servicer) and Santander Asset Management (Manager), is an Industrial Finance Fund strategically based on sale and lease back of machinery (80% of the Fund's investment objective, the rest is applicable to loans or leasing of new equipment or stock finance) with an investment objective of over Eur 500 Mio.
With the capacity to operate in Spain, Portugal, France and Benelux, the fund aims to provide medium/long-term financing, asset-back with strategic collateral for long-term financing of small, medium and large companies in the industrial sector.
For LB's customers this is an opportunity to obtain financing between Eur 2/3 Mio and up to approx. Eur 20 Mio, with terms of up to 7/8 years and very competitive costs, using as collateral the productive elements "in use" (i.e., it does not have to be new or recently acquired equipment)This is significantly different from other (non-bank or bank) sources of financing.
The documentation requirements, due diligence and agility of the analysis process of our operations are also very different from other competitors, trying not to overload our clients with work in the risk review process.