LOS ANGELES--(BUSINESS WIRE)--TriLinc Global Impact Fund (“TriLinc” or the “Company”) announced today that it has recently approved $11.9 million in trade finance transactions to companies in South Africa and Argentina. The transaction details are summarized below.
TriLinc is an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises (“SMEs”) in developing economies where access to affordable capital is significantly limited. Impact Investing is defined as investing with the specific objective of achieving a competitive financial return as well as creating positive, measurable impact on people and communities across the globe.
TriLinc approved the trade finance transactions, which meet the Company’s requirements for underwriting, economic development and societal advancement, as described below:
On November 6, 2014, TriLinc funded $1,285,000 as part of an existing $2,500,000 revolving trade finance facility at a fixed interest rate of 15.00% to a South African textile distributor. The transaction, set to mature on February 4, 2015, is secured by specific inventory being imported into South Africa from Asia. The borrower anticipates that the financing will support employment generation.
On November 10 and November 12, 2014, TriLinc funded $1,547,546 and $6,000,000, respectively, as a part of a $10,000,000 trade finance facility at a fixed interest rate of 13.00% to a South African agricultural chemicals producer and distributor. The transaction, set to mature on February 10, 2015, is supported by specific inventory. The borrower anticipates that TriLinc financing will support employment generation.
On November 7, 2014, TriLinc funded $3,052,856 as part of a $3,500,000 revolving trade finance facility at a fixed interest rate of 9.02% to an Argentine soy bean distributor. The transaction, set to mature on December 12, 2014, is supported by a specific purchase order contract with a buyer based in the Netherlands. The borrower anticipates that the financing will enable it to contribute to economic development and agricultural productivity.
“We believe that global trade is a vital driver of the world’s economy, and that it also supports the expansion and integration of developing countries’ economies,” said Gloria Nelund, TriLinc CEO. “By providing financing to developing economy SMEs that are active in global trade, TriLinc contributes to their growth and stability, which in turn supports jobs and dynamic communities in the countries where they operate.”
About TriLinc Global Impact Fund
TriLinc is a non-traded, externally managed, limited liability company that makes impact investments in SMEs in developing economies that provide the opportunity to achieve both competitive financial returns and positive measurable impact. TriLinc invests in SMEs through experienced local market sub-advisors, and expects to create a diversified portfolio of financial assets consisting primarily of collateralized private debt instruments. TriLinc’s investment objectives are to generate current income, capital preservation and modest capital appreciation. In addition, the Company aggregates and analyzes social, economic and environmental impact data to track progress and measure success against stated objectives.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in the Company's expectations.
