📋 Tender Overview
COMPANY NAME
Sygnus Credit Investments Limited
PROJECT NUMBER
15286-01
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S CATEGORY tooltip
FI-2
COUNTRY: Bahamas
SECTOR;Financial Institutions
STATUS:Proposed
DISCLOSED DATE
01/14/2025
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
PROJECTED BOARD DATE tooltip
03/13/2025
APPROVAL DATE
N/A
SIGNED DATE
N/A
SPONSORING ENTITY
N/A
INVESTMENT OPERATIONS DEPARTMENT CONTACT
Financial Institutions Division
INVESTMENT TYPE
Loan
SYNDICATED AMOUNT
N/A
FINANCING AMOUNT
USD $ 10,000,000
CURRENCY
USD
Project scope and objective
We are considering a US$10 million Working Capital ( WC ) line to Sygnus Investment Bahamas Inc. with a 5-year tenor to finance Small and Medium-Sized Enterprise ( SME ) receivables in The Bahamas. The loan will be 100% guaranteed by Sygnus Credit Investments Ltd. Initially the obligator will be the government of The Bahamas, but they plan to gradually onboard stable blue chip private sector companies.
This solution is anticipated to provide liquidity to SMEs in The Bahamas by purchasing short-term receivables with maturities ranging from three months to less than a year. Additionally, this WC line will deepen the local capital market by introducing new securities that offer liquidity to SMEs without them incurring additional debt. The IDB Invest will be providing funding as well as support to Sygnus in offering this flexible financing solution that traditional banks may be reluctant to support.
