Capital Markets
Our Capital Markets team is responsible for product development by originating, structuring, and arranging pioneering financing solutions for microfinance organizations and other socially positive businesses around the world, in addition to the creation of innovative investments for socially motivated investors.
Product Development
With combined experience in emerging markets investment banking, investment management, institutional sales and legal services, DWM meets its clients' capital raising needs and provide investors with risk-appropriate returns on high quality emerging market assets with a unique socially positive character.
Bond Issues
DWM structured the first international bond issuance out of Azerbaijan on behalf the Microfinance Bank of Azerbaijan (now called Access Bank) – 2007-2008.
Securitizations
DWM sees microloan securitization as a tool to make more capital available to microfinance institutions so they can make more loans to the poor. A pioneer and innovator in MFI financing, DWM has engaged in intense microfinance securitization efforts and gained knowledge in structuring securitization and working with MFIs, local regulators and service providers toward this endeavor.
Collateralized Transactions
Developing World Markets structured the first collateralized loan obligation with microfinance assets in 2004 and continued to develop the field with additional transactions in 2005 and 2006, arranging in total more than $150 million in microfinance CLOs.
Accomplishments
- Structured and placed the first rated microfinance Collateralized Debt Obligation for $60 million: loans to 26 MFIs in 17 countries, 2006.
- Structured and placed notes to fund a $25 million loan to Microfinance Bank of Azerbaijan in 2007 and 2008, the first cross border capital markets transaction by any company in Azerbaijan.
- Syndicated a €10 million loan in 2007 to an MFI in the Balkan region, one of the largest loans made to any MFI in the region.