Eurobank S.a. · ATHEX:EUROB
Eurobank — Investor Presentation (June 2023)
34 slides from Eurobank's investor presentation, June 2023
Slide 1: National Recovery and Resilience Fund | RRF
National Recovery and Resilience Fund | RRF June 2023 1
Slide 2: Contents
Contents 1. The RRF in brief | Implementation Timetable 2. Indicative Excluded Economic Activities | Indicative Investments per Pillar 3. RRF Loan Determination per Pillar | Eligible Expenses 4. Funding Scheme 5. Indicative RRF Loan Terms | Points of Interest 6. Investment Approval Procedure 7. Inve
Slide 3: 1. The RRF in brief | Implementation Timetable
National Recovery and Resilience Fund | RRF Recovery and Resilience Fund | RRF 1. The RRF in brief | Implementation Timetable 3
Slide 4: The Recovery and Resilience Fund (RRF) in brief
1. The Recovery and Resilience Fund (RRF) in brief • It is an EU initiative for Economy Objectives investment/structural reforms of its Green Growth Member States' economies to help them become more sustainable, Sustainability - Resilience resilient, green and digital Digital Skills • It includes mo
Slide 5: Implementation Timetable
1. Implementation Timetable 13/07/2021: Approval Date of RRF plan by Ecofin 09/08/2021: Initial downpayment of €4 billion | Expected drawdown of €3.35 billion in Η1 2022 28/12/2021: Signing of the Eurobank Operational Agreement with the Greek State 07/02/2022: Official RRF Tender Invitation is addre
Slide 6: 2. Indicative Excluded Economic Activities | Indicative Investments per Pillar
National Recovery and Resilience Fund | RRF Recovery and Resilience Fund | RRF 2. Indicative Excluded Economic Activities |Indicative Investments per Pillar 6
Slide 7: Indicative excluded economic activities
2. Indicative excluded economic activities Activities that are prohibited by international / European / national legislation Investment in incinerators for waste treatment Investment in mechanical-biological treatment plants Investment in waste landfill facilities Investment related to fossil fuels,
Slide 8: Indicative Investments per Pillar
2. Indicative Investments per Pillar Investment means the investment in tangible assets and/or activities with clearly defined scope and objectives Developing Economies of Scale Green Digital Innovation, Research Outward-looking through Partnerships, Mergers Transition Transformation & Development i
Slide 9: 3. RRF Loan Determination per Pillar | Eligible Expenses
National Recovery and Resilience Fund | RRF Recovery and Resilience Fund | RRF 3. RRF Loan Determination per Pillar |Eligible Expenses 9
Slide 10: RRF Loan Determination per Pillar | Eligible Expenses
3. RRF Loan Determination per Pillar | Eligible Expenses Investment pillar Min budget for green transition investments as a % of the total eligible budget, Green contributing to the green objectives (green tagging) of the NRRP (National Recovery 20% 40% 50% Transition and Resilience Plan) Correspond
Slide 11: RRF Loan Determination per Pillar | Eligible Expenses
3. RRF Loan Determination per Pillar | Eligible Expenses Investment pillar Existing or new partnership, or creation of a new entity as a result of an Existing New Entity acquisition/merger Partnerships Developing Corresponding RRF loan quota on investment project budget 30% 40% Economies of Scale th
Slide 12: Categories of eligible expenses
Categories of eligible expenses Eligible expenses within Hellenic territory Equipment (purchase, construction, use) Working capital Means of transport (including, without being (purchase, use) Operating Costs limited to, operating Intangible assets (purchase, Office Supplies costs, VAT costs, constr
Slide 13: 4. Funding Scheme
National Recovery and Resilience Fund | RRF Recovery and Resilience Fund | RRF 4. Funding Scheme 13
Slide 14: Financing Scheme
Financing Scheme Investor Bank RRF • Individuals or legal entities in Greece • Financing of min 30% of the investment • Granting of an RRF loan up to a max 50% and/or abroad budget with a Co-financing Loan of the investment budget • Own contribution of min 20% of the • Co-financing loan on terms con
Slide 15: 5. Indicative RRF Loan Terms | Points of interest
National Recovery and Resilience Fund | RRF Recovery and Resilience Fund | RRF 5. Indicative RRF Loan Terms | Points of interest 15
Slide 16: Basic RRF Loan Terms
Basic RRF Loan Terms Purpose Implementation of the eligible budget of the eligible investment Loan Duration Min up to 3 years & Max up to 15 years – only for Project Finance up to 20 years Until 26/08/2026 Availability Period of RRF funds The exact period of availability will be determined by the Ba
Slide 17: Additional points of interest for RRF
Additional points of interest for RRF Non-eligible expenses may be financed by the Bank without If an investment project falls under more than one RRF investment affecting the overall eligibility of the investment plan for RRF pillar, the cumulative quotas of all pillars cannot exceed 50%. funding.
Slide 18: 6. Investment approval procedure
National Recovery and Resilience Fund | RRF Recovery and Resilience Fund | RRF 6. Investment approval procedure 18
Slide 19: Approval procedure & Indicative Timetable
Approval procedure & Indicative Timetable Eurobank: your key partner in the whole process Ability 2-4 weeks to launch subject to the controller's 4-8 weeks investments (starting response time date) STEP 1 STEP 2 STEP 3 STEP 4 STEP 5 Submission of Investment Plan Credit Approval Application Eligibili
Slide 20: Step 1: Submission of investment plan | Indicative required data
Step 1: Submission of investment plan | Indicative required data Company Information Investment details Investment Funding Scheme • Company size • Description Includes concrete reference to the RRF loan • Financial statements for the past 3 financial • Detailed investment plan/technical amount & the
Slide 21: Step 2: Financial Approval of the Bank
Step 2: Financial Approval of the Bank Examination of the application in accordance with the Bank's credit policy & lending criteria: Credit rating & risk profile of the Investor Perspectives of the Investor based on business plan Evaluation of Investment Sustainability & Calculation of Investment’s
Slide 22: Step 3: Eligibility assessment and report of findings
Step 3: Eligibility assessment and report of findings Α. File completeness check Checking the required data submitted with the investment dossier Complete File Missing data Submission by Investor Verification of eligible investment according to the list of Excluded Activities Check YES & the investm
Slide 23: 7. Investment compatibility assessment within State Aid framework
National Recovery and Resilience Fund | RRF Recovery and Resilience Fund | RRF 7. Investment compatibility assessment within State Aid framework | Parallel Available State Aid Mechanisms 23
Slide 24: Compatibility assessment within State Aid framework | Comparison with Reference Rate
Compatibility assessment within State Aid framework | Comparison with Reference Rate Calculation of Reference Rate Base rate Loan margins in basis points • Determined in accordance with the Securities Business Rating Category + Communication from the European High Standard Low Commission (2008/C 14/
Slide 25: Compatibility check against State Aid framework | Comparison with Maximum State Aid
Compatibility check against State Aid framework | Comparison with Maximum State Aid Total Maximum State VS State Aid Aid Total State Aid > Maximum Total State Aid ≤ Maximum State Aid State Aid Reassessment so that Total State Aid = Maximum The requested RRF interest State Aid rate applies Increased
Slide 26: Illustrative example of GGE and Total State Aid | Small Company
Illustrative example of the calculation of GGE and Total State Aid | Small Company 1. Calculation of the Gross Grant Equivalent 2. Calculation of the Annual RRF Loan: Weighted Average Lending Financial Scheme for Capex €10 mil. • Duration 10 years / Grace period: 2 years Rate • Own Funds: 20% | €2,0
Slide 27: Illustrative example of GGE and Total State Aid | Medium Company
Illustrative example of the calculation of GGE and Total State Aid | Medium Company 1. Calculation of the Gross Grant Equivalent 2. Calculation of the Annual RRF Loan: Weighted Average Lending Financial Scheme for Capex €20 mil. • Duration 10 years / Grace period: 2 years Rate • Own Funds: 20% | €4,
Slide 28: RRF | Determination of maximum State aid limits
RRF | Determination of maximum State aid limits Regional Aid Map (since 1/1/2022) Eastern Macedonia Maximum regional aid rates for 2022-2027 & Thrace 70% 60% 50% Annual Total Central Macedonia Company size Number of Employees Annual turnover or Balance Sheet Western Macedonia 70% 60% 50% 70% 60% 50%
Slide 29: RRF: Parallel Available State Aid Mechanisms
RRF: Parallel Available State Aid Mechanisms Just Development Transition Plan Development Law: “Strong Growth for Greece” (JDTP) Maximum aid of up to 75% of Passed on 4/2/2022 to replace the investment (based on the existing Development Law €5.1 billion limits posed by the Regional 4399/20216 Aid Ma
Slide 30: RRF & Development Law: Notes of interest
Χρηματοδοτικό Σχήμα ΤΑΑ με συνδυασμό λοιπών κρατικών ενισχύσεων RRF & Development Law: Notes of interest Maximum RRF Funding = Eligible investments may begin RRF Budget does not always 50% * RRF Budget minus (–) other Grants /Subsidies materialization only after coincide with the submitted relevant
Slide 31: 8. Together with Eurobank | Next Steps
National Recovery and Resilience Fund | RRF Recovery and Resilience Fund | RRF 8. Together with Eurobank | Next Steps 31
Slide 32: Together with Eurobank
Together with Eurobank Dedicated RRF Team One-Stop Shop • Available at any time for questions and clarifications • Available Banking Products and Services throughout • Extensive experience on development programmes the duration of the RRF Programme • Network of partner consultants ready to provide s
Slide 33: Greece 2.0 funding notice and disclaimer
The project/actions are implemented within the National Resilience and Recovery Plan «Greece 2.0» with funding from the European Union – NextGenerationEU The presentation is of an informative nature and is provided for informational purposes only. The data and estimates referred to in this presentat
Slide 34: Eurobank
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