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Hayman Capital receives US$2 million debt capital from Symbiotics SA

5th February 2019, Yangon.

Hayman Capital Co., Ltd has signed US$2 million term loan from a Switzerland social impact investor, Symbiotics SA. All regulatory approvals from the Central Bank of Myanmar and the Financial Regulatory Department of the Ministry of Planning and Finance have been received and the fund has been disbursed to support the microfinance operations within the catchment areas of Hayman Capital Co., Ltd.

The new loan received from a Fund advised by Symbiotics SA shall serve about 15,000 new clients in the trading, production, agriculture and service categories of its niche market at the lower level.

“We are grateful to the Symbiotics team for their great job. It is the first global impact investor who supports our activities in Myanmar. I do believe that this opens a new page for us and our clients. We are committed to continuing our expansion in order to reach as much as possible unbanked population in this country and provide competitive financial services to them” – Mr. Sultan Marenov, the Managing Director and CEO of Hayman Capital Co., Ltd.

Hayman Capital Co., Ltd has seen a rapid geographical, clientele and loan portfolio expansion in the financial services industry over the past three and a half years in Myanmar. With 71,935 active clients, Loan portfolio of US$11.94 million, PAR>30 days at 0.41%, Total Assets of US$18.05 million and Equity of US$10.61 million, Hayman is a top-10 MFI in Myanmar in terms of paid up capital.

Hayman Capital Co., Ltd, a deposit-taking Microfinance Institution, is a 100% subsidiary of the Singapore-based International Investment Company – Hayman Capital Pte., Ltd. The Company was established in 2014 and it disbursed its first loan in July 2015. Currently, it has 14 branches: Insein, Thingangyun, Hlegu and Kawhmu branches in Yangon Region; Nyaung Lay Pin, Bago, Pyay and Taungoo branches in Bago Region; Pathein, Hinthada, Kyonpyaw branches in Ayeyarwaddy Region and Mandalay, Kyaukse, Meikhtilar branch in Mandalay Region.

Symbiotics SA has helped set up over 25 impact investing funds and has originated over USD 4.9 billion of impact investments since 2005. The company has issued more than 3,695 transactions for 426 institutions in 83 countries. Its headquarters is based in Geneva, Switzerland with regional and country offices around the world.

 

SOURCE: Hayman Capital Microfinance

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