Company name
Sygnus Credit Investments Limited
Project number
15286-01
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
Country

Bahamas
Sector

Financial Institutions
Status
Proposed
Disclosed date
01/14/2025
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/21/2025
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Financial Institutions Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,000,000
Currency
USD
Project scope and objective
We are considering a US$10 million Working Capital (“WC”) line to Sygnus Investment Bahamas Inc. with a 5‑year tenor to finance Small and Medium-Sized Enterprise (“SME”) receivables in The Bahamas. The loan will be 100% guaranteed by Sygnus Credit Investments Ltd. Initially the obligator will be the government of The Bahamas, but they plan to gradually onboard stable blue chip private sector companies.
This solution is anticipated to provide liquidity to SMEs in The Bahamas by purchasing short-term receivables with maturities ranging from three months to less than a year. Additionally, this WC line will deepen the local capital market by introducing new securities that offer liquidity to SMEs without them incurring additional debt. The IDB Invest will be providing funding as well as support to Sygnus in offering this flexible financing solution that traditional banks may be reluctant to support.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
gregory.hines@sygnusgroup.com
PHONE NUMBER
+ 1 (819) 351-9803
POST OFFICE ADDRESS
80 Lady Musgrave Road, Kingston 10 Jamaica
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
SYGNUS BAHAMAS SME RECEIVABLES WORKING CAPITAL - 15286-01– BH ENVIRONMENTAL AND SOCIAL REVIEW ESRS
122.9 Kb