- Symbiotics, the leading market access platform for impact investing, has arranged a Social Bond, raising USD 6.75 million in local currency (INR 506,250,000) for Samunnati Financial Intermediation & Services Private Limited (“Samunnati”), a non-banking financial company (NBFC) in India.
- This bond is issued via Symbiotics’ sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainability, Social and Green Bond Framework, which was certified in December 2019 by DNV GL. The Social Bond will be listed on the Luxembourg Green Exchange within the Social Bond section. The Social Bond proceeds are to be fully used towards a 3-year, senior unsecured, non-convertible debenture to Samunnati.
- Samunnati is a specialized Agri Value Chain enabler that offers customized financial, co-financial and non-financial solutions to farmer producer organizations and agricultural enterprises across the value chain. It was founded in 2014 with a mission ‘to make market work for the small holder farmers’ by making the value chains operate at a higher equilibrium. The proceeds of the Social Bond will be used to finance microloans up to an amount of USD 10.000 within mainly the agriculture sectors.
Link to Sustainability Social and Green Bond framework for Symbiotics
Link to issuance
About Symbiotics
- Symbiotics is the leading market access platform for impact investing, dedicated to financing micro- small and medium enterprises and low- and middle-income households in emerging and frontier markets. Since 2005, Symbiotics has structured and originated some 4,000 deals for over 450 companies in almost 90 emerging and frontier markets representing more than USD 5.5 billion. These investments have been purchased by more than 25 fund mandates and more than 50 third party specialized fund managers, forming a growing ecosystem and marketplace for such transactions. symbioticsgroup.com
About Samunnati
- The term ‘Samunnati’ means ‘collective growth, collective prosperity, collective elevation’. Started in 2014 as the only specialized Agri Value Chain enabler, the organization is steered by one vision ‘to make market work for the small holder farmers’ by making the value chains operate at a higher equilibrium. The organization leverages on ‘social’ and ‘trade’ capital to offer customized financial solutions to stakeholders across the agri value chain. Samunnati’s growth-oriented approach, known as AMLA [Aggregation, Market Linkages and Advisory services] empowers the agricultural community by helping them build better market linkages and using relevant technology and skills for growth. Headquartered in Chennai, Tamil Nadu, India, Samunnati has its presence in more than 54 agri value chains spread over 19 states in India. samunnati.com