Lombard loans in Europe (Euronext).
Private credit against Europe (Euronext)-listed shares — pledged, not sold, with ownership retained.
A Lombard loan against Europe (Euronext)-listed shares is credit secured by a pledge of equity listed on the Euronext. The holder pledges the shares as collateral, draws cash against a fraction of their market value, keeps beneficial ownership and dividends subject to structuring, and recovers the position in full on repayment. Known locally in some markets as “crédit lombard”, the instrument is the same: a loan secured by a pledge of listed shares.
- Lombard loans are arranged against shares listed on the Euronext (Euronext).
- The pledge is not a sale: ownership, dividends, and the upside stay with the holder.
- Loan-to-value is calibrated to the specific position, funded in EUR (principally; NOK for Oslo) or cross-currency.
- Structured under the AMF / AFM / FSMA / CMVM / CBI / FT / CONSOB regime, with disclosure from 5% (lower in France, Norway).
Eligible collateral and venues
Lombard Financing arranges facilities against equity listed on the principal Europe (Euronext) venue: Euronext (Euronext). Eligibility at the position level turns on the liquidity and free float of the specific line, its volatility, and the size of the holding relative to its typical traded volume — the same variables that drive the loan-to-value.
Regulator and disclosure
Shares listed in Europe (Euronext) are regulated by National regulators in each jurisdiction (AMF France, AFM Netherlands, FSMA Belgium, CMVM Portugal, CBI Ireland, Finanstilsynet Norway, CONSOB Italy) (AMF / AFM / FSMA / CMVM / CBI / FT / CONSOB). Substantial-shareholding disclosure is triggered from 5% (lower in France, Norway), and a pledge over a large line is structured with that reporting regime in view so that the transaction remains discreet and compliant. Where a holding sits near a control or takeover threshold, the structure is arranged to avoid disturbing the position.
Funding, custody, and structuring
Facilities are typically arranged for a tenor of twelve to thirty-six months, funded in EUR (principally; NOK for Oslo) or in another currency on a cross-currency basis. Throughout the facility the pledged shares are held by a qualified custodian under bankruptcy-remote arrangements, so the security is clean and the holder’s ownership is preserved. Non-recourse, limited-recourse, and full-recourse structures are available, and the choice interacts with the loan-to-value and the pricing.
| Listing venue(s) | Euronext (Euronext) |
|---|---|
| Regulator | National regulators in each jurisdiction (AMF France, AFM Netherlands, FSMA Belgium, CMVM Portugal, CBI Ireland, Finanstilsynet Norway, CONSOB Italy) (AMF / AFM / FSMA / CMVM / CBI / FT / CONSOB) |
| Currency | EUR (principally; NOK for Oslo) (cross-currency available) |
| Disclosure threshold | From 5% (lower in France, Norway) substantial-holding disclosure |
| Principal indices | Euronext 100, CAC 40, AEX, BEL 20, PSI 20, ISEQ 20, OBX, FTSE MIB |
| Indicative tenor | 12–36 months, renewable by agreement |
| Recourse | Non-recourse / limited-recourse / full-recourse |
Considering a Lombard loan against a Europe (Euronext)-listed position?
Request terms →Lombard loans across United Kingdom & Europe.
On this market, specifically.
Disclosure and regulation
Euronext is one order book across seven national markets, so the disclosure question follows the country of listing rather than the platform. The baseline is the EU Transparency Directive — notification at 5% and each further 5% — but several members set lower first thresholds, notably 3% in France and 2% in Norway, so a Lombard loan against a Paris line engages a finer regime than an Amsterdam one. A pledge keeps ownership and the vote with the client and sits outside these filings; we simply calibrate documentation to the strictest threshold that touches the position and to the local takeover overlay.
An illustrative example
As an illustration, a founding family with €50 million across Euronext-listed shares might arrange a Lombard loan at 50% loan-to-value, within the 20–65% band we quote, freeing roughly €25 million. Ownership stays with the family, dividends and voting rights continue, and nothing changes hands. Because the group spans several currencies, the advance can be drawn in euro or, for an Oslo line, in Norwegian kroner where that suits the client. The numbers are rounded and illustrative only, intended to show how a facility is shaped rather than to quote terms.
Illustrative only — not an offer, a quotation, or a commitment to lend.