Last week FMO signed a USD 78 million syndicated loan for Federal International Finance (FIF) in Indonesia. The facility was arranged by FMO and RBS. The loan consists of an A-1 loan of USD 25 million for the account of FMO, an A-2 loan of USD 15 million for DEG and a B-loan of USD 38 million financed by 6 commercial banks. FIF is a finance company specialized in motorcycle finance. FIF clients are mainly the low-income segments of the society. Around 85% of their customers earn less than EUR 330 per month. FIF financing helps these customers buy a motorcycle, which they will use to commute to/from work and in their small businesses. For most people in urban and rural areas in Indonesia, motorcycles provide cheap means of transport.
The arrangers organized a roadshow in Singapore and Manila to approach the regional commercial banks. Although promoting this transaction in a challenging market environment the arrangers succeeded to include 6 commercial banks.
About FMO
FMO (the Netherlands Development Finance Company) is the Dutch development bank. FMO supports sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs. FMO believes a strong private sector leads to economic and social development, empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With an investment portfolio of EUR 5.9 billion, FMO is one of the largest European bilateral private sector development banks.
Press contact:
Paul Hartogsveld, Communications Officer (PR)
T: +31 70 314 9924
E: p.hartogsveld@fmo.nl
