Grameen Koota, an Indian microfinance institution, is seeking to raise INR 1 billion (USD 21 million) and is reportedly planning to close a deal in the next several months.
Category: Deals
MICROCAPITAL BRIEF: Peruvian Microfinance Institution (MFI) Mibanco Receives $45m Syndicated Loan from Inter-American Development Bank (IDB), BlueOrchard, Oikocredit, the Calvert Foundation and Societe de Promotion et de Participation pour la Cooperation Economique (PROPARCO)
Peruvian microfinance institution (MFI), Mibanco, has received a loan package of USD 45 million, arranged by Inter-American Development Bank (IDB), allowing it to create a new credit program, Crecer Mi Negocio, which targets women entrepreneurs. The program will help finance medium-term loans ranging from a few hundred dollars up to USD 3,000 for the purchase of new fixed assets or otherwise financing existing businesses. The precise range of maturities indicated ‘medium-term’ has not been released to date.
MICROCAPITAL BRIEF: Indian Microfinance Institution Ujjivan Financial Services Raises $10m Through Issue of Non-Convertible Debentures (NCDs)
Ujjivan Financial Services, an Indian microfinance institution, recently raised INR 450 million (USD 10 million) through a private placement of non-convertible debentures to undisclosed institutional investors.
MICROCAPITAL BRIEF: Inter-American Development Bank (IDB) Approves $150m to Strengthen Microfinance Institutions (MFIs) and Small Business Projects in Latin America and the Caribbean
The Inter-American Development Bank’s (IDB’s) Board of Executive Directors approved a loan and guarantees singular facility of USD 150 million to strengthen financial institutions in Latin America and the Caribbean to boost long-term financing to small business projects deemed to have a high social impact.
MICROCAPITAL BRIEF: SKS Microfinance IPO Experiences Strong Demand, Total Share Offer 13 Times Oversubscribed
When SKS Microfinance launched India’s first initial public offering (IPO) on July 28, 2010, the total share issue received bids for 13.55 times the overall shares on offer, with the institutional share offer oversubscribed by 20.3 times.
MICROCAPITAL BRIEF: The Coalition of Tanzania Microfinance Practitioners and Service Providers Limited Merges With The Tanzania Association of Microfinance Institutions (TAMFI)
The Tanzania Association of Microfinance Institutions (TAMFI) and the Coalition of Tanzania Microfinance Practitioners and Service Providers Limited have recently merged after an independent team that was commissioned last year to resolve the issue recommended that, because they were essentially conducting the same functions, the existence of both institutions was only creating confusion among members and other microfinance stakeholders.
MICROCAPITAL BRIEF: Grameen Foundation Receives $125,000 from Citi Foundation to Help Improve Human Capital Management Practices at Microfinance Institutions (MFIs)
Grameen Foundation, a US-based nonprofit organization, recently announced that it has received grants totaling USD 125,000 from the US-based microfinance funder, Citi Foundation. USD 100,000 is directed to Grameen’s efforts to improve human capital management practices at microfinance institutions (MFIs), while the remaining USD 25,000 is in support of Grameen’s broader strategic initiatives. The details of these broader initiatives have not been specified.
MICROCAPITAL BRIEF: Ingenico SA of France Takes Majority Stake in Remittance Provider TransferTo
Ingenico S.A., a global electronic payment solutions company based in France, recently took a controlling interest in TransferTo, a Singapore-based telecommunications company, increasing its stake in the company from 35 percent to 90 percent.
MICROCAPITAL BRIEF: Indian Microfinance Institution Spandana Sphoorty’s Board Actively Evaluating an Initial Public Offering (IPO)
Spandana Sphoorty Financial Limited, an Indian microfinance institution, is evaluating an initial public share offering (IPO) following the recent launch of SKS Microfinance’s IPO, the first IPO by an Indian microfinance institution.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $1.5m Loan to Bai-Tushum to Support Micro- and Small Enterprises in Kyrgyz Republic
European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, is providing a loan of KGS 67.5 million (USD 1.5 million) to Bai Tushum and Partners, a microfinance institution (MFI) in the Kyrgyz Republic, for on-lending to micro- and small enterprises (MSEs). This constitutes the first of two equal tranches under a KGS 135 million (USD 3 million) loan agreement signed in March 2010. According to EBRD, the transaction is part of a USD 60 million non-bank MFI framework for “Early Transition Countries,” which was approved by EBRD in September 2008.
MICROCAPITAL BRIEF: Belgian Investment Company for Developing Countries (BIO) Loans $4m Each to Prasac and Sathapana, Microfinance Institutions (MFIs) in Cambodia
The Belgian Investment Company for Developing Countries (BIO), established in 2001, recently loaned USD 4 million each to two microfinance institutions (MFIs) in Cambodia: Prasac and Sathapana.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Arranges $135m Syndication for Banco Fibra of Brazil in Cooperation with Banco Itau Europa and Banco Santander
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently arranged USD 135 million in syndicated lending for Banco Fibra, a Brazilian bank that reported 2009 total assets of BRL 11.8 billion (USD 6.7 billion). The IFC, a 7.9 percent stakeholder in Banco Fibra, raised much of the funds through Banco Itau Europa of Portugal and Banco Santander of Spain. Through this deal, Banco Fibra aims to expand its services for small and medium-sized enterprises (SMEs) in Brazil.
MICROCAPITAL BRIEF: Unitus Equity Fund Investment in SKS Microfinance Valued at $60m, Partial Exit Expected This Week
Unitus Equity Fund, a privately-funded microfinance investment fund affiliated with Unitus Inc., a United States-based nonprofit, is reportedly expected to reduce its shareholdings in SKS Microfinance this week by selling approximately 1 million shares during SKS Microfinance’s initial public offering (IPO), which has been covered by MicroCapital several times since March 29, 2010.
MICROCAPITAL BRIEF: SKS Microfinance Launches India’s First Initial Public Offering (IPO) by a Microfinance Institution
SKS Microfinance has launched India’s first initial public offering (IPO), anticipation of which stretches at least back to a report by MicroCapital on March 29, 2010.
MICROCAPITAL BRIEF: India’s SKS Microfinance Raises $64m in Share Allotment Ahead of Initial Public Offering (IPO)
SKS Microfinance reported it has raised INR 2.98 billion (USD 64 million) in a share allotment to 36 undisclosed anchor investors prior to its initial public offering (IPO) scheduled to open July 27, as was previously reported by MicroCapital on July 22, 2010.
MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $4m to JSCB Senagat and Turkmenbashy of Turkmenistan for SMEs
The European Bank for Reconstruction and Development (EBRD) is providing a USD 4 million loan facility to Turkmenistan for on-lending to small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: Oikocredit Invests $4.7m in Bolivian Microfinance Institutions (MFIs); CIDRE (Centro de Investigacion y Desarrollo Regional), CRECER (Credito con Educacion Rural), FUBODE (Bolivian Development Foundation) and Diaconia FRIF (Fondo Rotativo de Inversion y Fomento)
Oikocredit, a microfinance investment fund in the Netherlands with total assets of USD 665 million, recently loaned a total of USD 4.7 million to four Bolivian microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Oikocredit Invests $3.4m in Latin American Microfinance Institutions (MFIs) Contactar (Corporacion Narino Empresa y Futuro) in Colombia, PADECOMSMCREDITO (Sociedad Cooperativa Patronato para el Desarrollo de las Comunidades de Morazon y San Miguel Credito) in El Salvador and Banco Itapua in Paraguay
Oikocredit, a microfinance investment fund in the Netherlands with total assets of USD 665 million, recently loaned approximately USD 3.46 million to three Latin American microfinance institutions (MFIs).