Traduction de «80-10-10 loan » (Anglais → Français) :

the guarantee does not exceed 80 % of the underlying loan and either the amount guaranteed is EUR 112 500 and the duration of the guarantee is 5 years or the amount guaranteed is EUR 56 250 and the duration of the guarantee is 10 years; if the amount guaranteed is lower than these amounts and/or the guarantee is for a period of less than 5 or 10 years respectively, the gross grant equivalent of that guarantee shall be calculated as a corresponding proportion of the ceiling laid down in Article 3(2); or

Regarding the long-term element of the loan rate (90 %, comprising 10 % linked to the yield on 10-year government securities and 80 % linked to the yield on 30-year government securities), Italy considers that the Obligation on PI, which is a ‘parametric investment’ (investimento di tipo parametrico) remunerated at a loan rate defined by reference to a weighted average of the yield on government securities, is different from the obligation introduced in the 2007 Finance Act to invest directly in government securities freely selected and freely managed, which are ‘direct investments’ (investimenti diretti).

On the basis of the Guarantee Notice and the Commission’s related practice, condition (iii) has been fulfilled, since the guarantee, which has not been enforced, is linked to a specific loan, limited to a term of 10 years, and covers only 80 % of that loan, i.e. a fixed amount of EUR 1,3 million.

According to Italy, as we have seen, the stable component of the deposit, which is of a long-term nature, is reflected in the long-term element of the loan rate (90 %, made up of (i) 10 % linked to the yield of the 10-year multiannual Treasury bond, and (ii) 80 % linked to the yield of the 30-year multiannual Treasury bond).

Ship investments run at least 12 years whereas normal loans are limited to 8 or 10 years; ships need 80%, of their value to be financed whereas normal loans cover only 60%.

The Scheme also provides for aid to shipowners (10 billion pesetas) in the European Union in the form of subsidised loans for the construction or conversion of ships, on the following conditions : 80% of contract value; repayment period of 12 years (exceptionally 14 years) with two years grace period; 8% interest rate.