IIX closes $8m Women’s Livelihood Bond for SEA, to seek listing on SGX

Visual from IIX Global's website.

Impact Investment Exchange (IIX) has closed its $8 million Women’s Livelihood Bond (WLB), a debt security designed to impact the lives of over 385,000 women across Southeast Asia.

IIX also announced on Wednesday (July 5), its plan to list the bonds on the Singapore Stock Exchange (SGX). A total of 5.65 per cent of WLB are due  on 2021.

“This innovative bond is the world’s first impact investing instrument with a dual focus on social and financial returns to be listed on a stock exchange,” IIX said in its statement.

Founded in 2009 by Durreen Shannaz, IIX is a Singapore-based social enterprises (SE) investor that facilitates social enterprises accessing financial capital, allowing them to expand more rapidly.

Also Read: Singapore: IIX’s Impact Partners makes first debt-based deal in Pacific Baby

IIX touted WLB as the world’s first multi-country and multi-sector, gender-lens investing instrument. It has been developed in partnership with players across the private, public and philanthropic sectors.

For the vehicle, IIX has partnered with DBS Bank, USAID, Australian DFAT, the Rockefeller Foundation, Shearman & Sterling, Hogan Lovells, Japan Research Institute, Clinton Global Initiative, and ANZ Bank.

WLB is expected to unlock capital for impact enterprises and microfinance institutions  that are part of the sustainable livelihoods spectrum for women in Southeast Asia.Through WLB, women will have access to credit, market linkages, natural resources, and to affordable goods and services.

Also Read: IIX-Shujog, KKR help PH vaccine firm Glovax Biotech raise $1m credit

This will, in turn, help them transition from subsistence to sustainable livelihoods and redefine the dominant narrative from viewing women as victims to recognizing them as solutions to development, change and progress.

Once listed on SGX, WLB is predicted to increase credit access, improve market linkages and enhance goods and services for women in Cambodia, Vietnam and the Philippines.

“The closing of the Women’s Livelihood Bond is a landmark achievement for the impact investment market, demonstrating that impact investment products can achieve scale, transparency and liquidity,” Shannaz said.

She added “the bond is the first financial instrument that truly connects Wall Street with the backstreets of our communities – now that is exciting!”

Also Read:

IIX Asia picks 4 PH social enterprises for Impact Accelerator program

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.