Symbiotics UK Ltd and GuarantCo, part of the Private Infrastructure Development Group (PIDG), have successfully partnered to arrange a EUR 18 million debt facility for Robust International Pte Ltd to finance a cashew nut processing plant in Côte d’Ivoire.
The transaction features a novel structure, combining funding provided by institutional investor M&G Investments Ltd – benefiting from a guarantee provided by GuarantCo — with uncovered funding provided by impact funds advised by Symbiotics Asset Management.
The debt facility was provided by a Symbiotics-arranged vehicle, which in turn issued covered notes with the benefit of the GuarantCo guarantee. These covered notes were fully subscribed by M&G Investments. At the same time, uncovered notes were issued, without the benefit of the GuarantCo guarantee, and fully subscribed by impact funds advised by Symbiotics Asset Management.
The novelty of the transaction lies in the way the covered and uncovered funding interact with the guarantee, enabling the transaction to be specifically tailored to the requirements of each stakeholder: the institutional investor (which requires matching-adjustment eligibility), the impact investor (which requires a measurable impact), and the guarantor (in terms of its exposure).
The transaction will inter alia finance the development of a greenfield cashew nut processing plant with 15,000 MT/year processing capacity located in Côte d’Ivoire. It is forecast to result in the procurement of cashews from c. 1,500 local smallholder farmers, and is expected to create 510 jobs, of which 40% of short-term and 80% of long-term jobs will be taken up by women.
Dave Chalila, Head of Sub-Saharan Africa Investments at GuarantCo, said: “This Côte d’Ivoire transaction builds on the established precedent set by our earlier Robust deal in Nigeria. It largely replicates the transaction structure and documentation framework to materially reduce execution and delivery risks. We are delighted to continue our highly effective collaboration with Symbiotics and M&G, driving innovation in sustainable infrastructure finance. The project mobilises private institutional capital into an agro-industrial asset in a market that has to date been consistently underserved.”
María Redondo, director at M&G Investments, said: “At M&G, we are committed to investing in opportunities that deliver both attractive risk-adjusted returns and measurable impact. Building on our previous investment in Robust, this financing will help expand local cashew processing capacity in Côte d’Ivoire, supporting jobs, local value creation and sustainable economic growth. It also highlights the role innovative financing structures can play in mobilising private capital for impactful investments in emerging markets.”
Philipp Jung, head of structuring & arranging at Symbiotics UK Ltd, said: “We are extremely pleased to continue our successful co-operation with both GuarantCo and M&G Investments, in this instance through the establishment of a structure that creates a matching-adjustment eligible investment by adding an uncovered tranche to the transaction which meets the requirements of an impact investor.”
“We are delighted that the funds we advise are involved in this transaction through their investment in the uncovered tranche, as this is not only an impactful transaction, but it also plays a part in the establishment of a truly symbiotic relationship between the parties. This investment is aligned to our impact funds’ goals, as local processing plants boost value added retained within the country, contributing to job creation and supporting economic growth,” added Danilo Broseghini, portfolio advisor at Symbiotics Asset Management.
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For more information, contact:
Samy Derradji, Head of Corporate Communication, Symbiotics
samy.derradji@symbioticsgroup.com
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About Symbiotics
Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, we have originated over 9,400 investments representing more than USD 11.9 billion for 667 companies in 99 countries. We manage an aggregate portfolio of USD 2.5 billion spread across 19 funds and mandates. Our portfolio companies have also benefited from over 170 technical assistance projects worth more than USD 19 million. symbioticsgroup.com
About GuarantCo
GuarantCo, part of the Private Infrastructure Development Group (PIDG), provides innovative credit solutions to mobilise private capital for sustainable infrastructure projects and supports the development of financial markets in lower income countries across Africa and Asia. GuarantCo offers long-term guarantees that remove obstacles for investors and lenders, both international and domestic. Typically issued in local currency, its guarantees help unlock the loans and bonds needed to finance essential infrastructure projects. GuarantCo is rated A1 by Moody’s and AA- by Fitch, which enables it to leverage the equity from its funders through three-fold blended finance. guarantco.com
About M&G Investments
M&G Investments is part of M&G plc, a savings and investments company with £371.4 billion of assets under management (as at 31 March 2026). M&G plc has customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members. For nearly nine decades, M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi-asset, cash, private debt, infrastructure and real estate. M&G plc recognises the importance of responsible investing, is a signatory (both as an asset manager and owner) to the UN-supported Principles for Responsible Investment (PRI), and is targeting net zero emissions by 2050, across our investment portfolios and operations. group.mandg.com
