BLP advises FMO

On January  22, 2016, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (“FMO”) closed on a US$ 19.5 million senior loan facility to Financiera Desyfin S.A. (the “Borrower”). The proceeds of the loan will be used to support the Borrower’s origination of loans to small- and medium- sized enterprises in the Republic of Costa Rica. Supporting SMEs through Desyfin with scarce long term funding, contributes to economic growth and employment in Costa Rica. Desyfin  is a non-bank financial institution that started operations in 1991.

Desyfin's core business is providing credit and other financial products exclusively to the SME segment in Costa Rica. As a long-time market leader in factoring, Desyfin has gradually grown into a serious player in the Costa Rican financial sector. Desyfin is in the process of becoming a bank and is expected to obtain a banking license early 2016. The institution has 7 branches in the major cities in Costa Rica and 180 employees.

BLP advised FMO in this important transaction.