LOS ANGELES--(BUSINESS WIRE)--TriLinc Global Impact Fund (“TriLinc” or the “Company”) announced today that it has recently approved $9.7 million in trade finance transactions to companies in South Africa and Guatemala. 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 in 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:
Between October 6 and October 14, 2015, TriLinc funded $1,345,634 at a fixed interest rate of 10.90% and three transactions totaling $5,190,000 at a fixed interest rate of 10.38% as part of a new senior secured $10,000,000 trade finance facility with a South African agricultural supplies distributor. The transactions, set to mature between November 29, 2015 and January 14, 2016, are supported by specific inventory being imported into South Africa. The borrower anticipates that TriLinc financing will support employment generation.
Between October 7 and October 30, 2015, TriLinc funded $586,647 as part of an existing $2,500,000 revolving senior secured trade finance facility at a fixed interest rate of 15.00% to a South African textile distributor. Set to mature between January 13 and 28, 2016, the transactions are secured by specific inventory being imported into South Africa from Asia. The borrower anticipates that TriLinc financing will support employment generation.
On October 13, 2015, TriLinc funded $1,173,000 as part of an existing $11,000,000 revolving senior secured trade finance facility with a South African electronics company that assembles affordable cellular phones and digital television conversion sets. With a fixed interest rate of 13.00%, the transaction is set to mature on February 9, 2016 and is secured by receivables as well as specific inventory being imported into South Africa from Asia. The borrower anticipates that TriLinc financing will support job creation.
On October 15, 2015, TriLinc funded $1,000,000 as part of a new $2,000,000 revolving senior secured trade finance facility with a Guatemalan sesame seed processor and exporter. With a fixed interest rate of 12.00%, the transaction is set to mature on March 31, 2016 and is secured by receivables as well as specific purchase contracts. The borrower anticipates that TriLinc financing will support increased agricultural productivity in Guatemala and create jobs.
On October 30, 2015, TriLinc funded $440,000 as part of an existing $2,000,000 purchase and repurchase trade finance facility at a fixed interest rate of 13.00% to a South African industrial materials distributor. The transaction, set to mature on December 3, 2015 is secured by specific inventory. The borrower anticipates that TriLinc financing will support job creation.
“These recent investments in South Africa and Guatemala underscore TriLinc’s critical role in supporting growth-stage SMEs as engines of economic development,” said Gloria Nelund, TriLinc CEO. “Core to TriLinc’s catalytic role is its provision of flexible and timely financing to locally-owned enterprises seeking to increase revenue and create jobs by competing in the global marketplace.”
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.
