Symbiotics MFLO3

The Symbiotics MFI Global Sub Debt CDO (Collateralized Debt Obligation) transaction has been structured by Symbiotics S.A. and closed in 2007. It provides financing to a pool of six microfinance institutions in Peru (46.16%), Nicaragua (30.76%), and Kazakhstan (23.08%), structured as an 8-year Collateralized Debt Obligation (CDO) transaction with three tranches. The underlying loans are extended in the form of subordinated debt, which qualifies as lower Tier II capital of the borrowers.

Symbiotics Securities SA acts as Structuring Advisor and Servicer to the Issuer. Symbiotics is a professional services company which offers innovative investment intermediation services to microfinance investors and fund managers. The company is based in Geneva, and was established in 2005 by ex-staff and managers from BlueOrchard Finance SA and Infobahn SA, a microfinance investment advisory services firm and a microfinance information technology services firm respectively.

SIFEM invested a total of USD 1.50 million, comprising of USD 0.98 million in C Notes and USD 0.53 million in A Notes.