Hogan Lovells, the global law firm, has advised the European Investment Bank on a guarantee agreement with Dutch bank NIBC Bank in support of loans of up to EUR 500 million to innovative mid-sized enterprises. The operation is supported by 'InnovFin - EU Finance for Innovators' MidCap Guarantee with the financial backing of the European Union under Horizon 2020 Financial Instruments.

With the EIB bringing a guarantee of up to EUR 250 million, NIBC will be able to provide finance to innovative companies for a total of up to EUR 500 million. The operation is specifically meant for a portfolio of innovative and fast growing Mid-Caps in various sectors, including Telecom, Media, Technology & Services, Industries & Manufacturing, Food, Agriculture, Retail & Health and Infrastructures & Renewables.

Led by London and Amsterdam finance partners, Andrew Taylor and Wouter Jongen, Hogan Lovells was the EIB's lead counsel on this cross border transaction. They were supported by senior associate Philip Beswick and associates Rhodri Lewis and Art van der Pols.

Commenting on the financing, Amsterdam finance partner, Wouter Jongen said: "With the provision of this new guarantee arrangement, mid-sized Dutch and German businesses will be able to access the necessary capital to grow their enterprises. We are delighted to have acted for the EIB again on such an innovative transaction."