FINANCIERA DESYFIN S.A.
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Financiera Desyfin S.A. ("Desyfin") is a regulated non-banking financial institution in Costa Rica. Desyfin's core business is providing credit and other financial products (e.g. factoring and leasing) to the lower end of the SME segment. It currently has over 3,000 active borrowers (both individuals and SMEs), employs over 200 people (56% female) and manages 6 branches throughout Costa Rica
What is our funding objective?
FMO's total loan of USD 25.5mln will be partly dedicated to financing SME clients and green projects, thereby contributing to decent work and economic growth activities and supporting climate action. It will also partly support the capital position of the financial institution. The total USD 25.5mln transaction refers to a committed tranche of USD 15mln, an un-committed tranche of USD 7.5mln (which may be activated) and a sub-debt loan of USD 3mln.
Why do we fund this investment?
Desyfin plays an important role in providing access to finance to small and medium enterprises, a critical segment in supporting job creation. Furthermore, FMO brings additionality by providing medium-term financing to support the growth of a green portfolio and the subordinated funding to strengthen the Tier 2 Capital and fund organic growth.
What is the Environmental and Social categorization rationale?
Desyfin E&S is categorized as B given the nature and size of its loans. The company does not have exposure to activities on FMO's exclusion list or IFC-PS triggered transactions.
More investments
| Date | Total FMO financing |
|---|---|
| 8/23/2021 | USD 3.00 MLN |
| 11/3/2023 | USD 15.00 MLN |
- Website customer/investment
- http://www.desyfin.fi.cr
- Region
- Latin America & The Caribbean
- Country
- Costa Rica
- Sector
- Financial Institutions
- Publication date
- 5/26/2021
- Effective date
- 8/23/2021
- Total FMO financing
- USD 15.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B