The transaction will be viewed by many as a groundbreaking event, not only as a result of the AAA rating given to the issue, but also due to it paving way towards more foreign participation in providing alternative solutions to developing the debt capital market in the country.
In order to provide local market participants with more information regarding the deal and other Debt Market initiatives, a half day seminar titled "Financing Sri Lanka’s Development" –an Investor Forum on Debt Capital Alternatives for the SME Sector, has been organized by Softlogic Finance PLC, in collaboration with GuarantCo to be held on the 18th of December (Wednesday) 2013 at The Kingsbury Hotel, Colombo, commencing at 8am.
The programme is designed to educate the attendees on availability of alternatives as well as providing an impetus to the local debt markets, to assist its participants to pursue such alternatives through regulatory frameworks and to substantially increase the development of the SME sector of Sri Lanka. The Keynote address at the event will be delivered by the Governor of the Central Bank of Sri Lanka, Mr. Ajith Nivard Cabraal and the audience will comprise Institutional Investors, Prospective NBFI issuers, Debt Market Intermediaries and Regulators.
GuarantCo is owned by the PIDG members through the PIDG Trust and, in the case of DGIS, through FMO. The GuarantCo concept came from the Private Infrastructure Development Group ("PIDG") which is a multi-donor, member-managed organisation. Current PIDG members include: the UK Department for International Development ("DFID"), the Swiss State Secretariat for Economic Affairs ("SEGO"), the Netherlands Ministry of Foreign Affairs ("DGIS"), the Swedish International Development Cooperation Agency ("Sida"), the World Bank, the Austrian Development Agency ("ADA"), Irish Aid, Kreditanstalt für Wiederaufbau ("KfW"), and the Australian Agency for International Development (AusAid).
GuarantCo is run and managed on a commercial basis by Frontier Markets Fund Managers Limited ("FMFML"), which is owned by Standard Bank Group, FMO and Emerging Markets Partnership ("EMP"). FMFML has primary responsibility for the overall management of GuarantCo.