GLAS Singapore supports IFS Capital on MSME loan securitisation programme

GLAS is pleased to see the successful completion of IFS Capital’s inaugural MSME loan securitisation programme. The team in Singapore supported the S$79m transaction, acting as Security Trustee, Cash Manager, Paying Agent, Note Registrar, Transfer Agent, Noteholder Representative and Corporate Services Provider.

The programme will see funds redeployed into new micro, small and mid-sized enterprises (SME) lending. The S$79m is secured by Singapore real estate assets and is backed by a portfolio of MSME loans. DBS Bank was the sole arranger.

As part of the programme, a portion of IFS Capital’s existing MSME loan portfolio will be sold to a Special Purpose Vehicle, funding the purchase through issuance of senior, mezzanine and subordinated notes. It has been confirmed that CapitaLand Investment will subscribe the full aggregate principal amount of the senior notes being offered.

This SPV formation, structuring and ongoing management and administration was supported by the GLAS team in Singapore and Hong Kong, utilising our extensive private capital expertise to help IFS Capital achieve their objectives.

About IFS Capital

IFS Capital provides private credit origination, asset management and insurance services to SMEs, consumers and investors across Asia. The company has a presence in Singapore, Thailand, Malaysia, Indonesia and Hong Kong. Founded in 1987, the business has been listed on the Mainboard of the Singapore Exchange since 1993.

About GLAS

Founded in 2011, GLAS is a leading independent global provider of debt administration services. As a non-lender and conflict-free firm, GLAS supports both private and public credit markets, distinguishing itself through its expertise, reliability and independence.

With over $920 billion of assets under administration, GLAS is headquartered in London and has an established international presence, with offices in the United States, France, Germany, Spain, Italy, the United Arab Emirates, Singapore, Hong Kong and Australia.

For further information, please contact: media@glas.agency.