TriLinc Global Impact Fund Makes Impact Investments in Africa and Latin America

TriLinc Global Impact Fund announced today that it has approved an additional $24.6 million in term loan and trade finance facilities to companies operating in Latin America and Sub-Saharan Africa, bringing total financing commitments as of October 31, 2016 to $226.1 million for business expansion and socioeconomic development through its holdings in Africa, Latin America and Southeast Asia.

LOS ANGELES--()--TriLinc Global Impact Fund (“TriLinc” or the “Company”) announced today that it recently approved $24.6 million in term loan and trade finance transactions with companies operating in Africa and Latin America. 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 term loan and trade finance transactions, which meet the Company’s requirements for underwriting, economic development and societal advancement, as described below:

On October 13, 2016, TriLinc funded $8,000,000 as part of an existing $20,000,000 senior secured trade finance facility with a Ghanaian power producer. With a fixed interest rate of 11.50% and maturity date of October 9, 2017, the transaction is secured by inventory and receivables. The borrower anticipates that TriLinc’s financing will continue to support increased access to energy for end-users in Ghana and will contribute to reducing the demand pressures and blackout frequency that currently burdens the country’s electric grid.

On October 14, 2016, TriLinc funded $161,018 as part of a new senior secured $1,500,000 revolving trade facility with a Kenyan plastic packaging manufacturer. With a fixed interest rate of 11.50% and maturity date of October 9, 2017, the transaction is secured by inventory and receivables. The borrower anticipates that TriLinc’s financing will support its growth projections by enhancing both its productivity and competitive positioning in the local and regional markets.

On October 18, 2016, TriLinc funded $2,798,007 as part of an existing $8,000,000 senior secured revolving receivables trade finance facility to a global metals trader based in the United Kingdom and operating in Africa. With an interest rate of six month Libor + 7.50%, the transaction is set to mature on April 15, 2017 and is secured by a bill of exchange and sales contracts. TriLinc’s financing will facilitate the trade of South African nickel cathodes, a critical input to iron and steel production, for further value-added processing.

On October 19, 2016, TriLinc funded $10,000,000 as part of an existing trade finance facility with an Argentine agricultural intermediary. Secured by purchase contracts and receivables, the transaction is set to mature on July 16, 2017 and has a fixed interest rate of 9.00%. The borrower anticipates that TriLinc financing will support economic growth through job creation, increased exports, and increased agricultural productivity. For TriLinc’s Argentine borrowers, TriLinc provides export finance, where the international buyers are typically developed market companies or large conglomerates.

On October 21, 2016, TriLinc funded $1,500,000 as part of an existing $4,000,000 revolving trade finance facility with an Ecuadorian shrimp exporter. With a fixed interest rate of 9.25%, the transaction is set to mature on July 24, 2017 and is secured by inventory, accounts receivable, and purchase contracts. The borrower anticipates that TriLinc’s financing will continue to improve its competitiveness in the global marketplace and grow its employee base.

On October 24, 2016, TriLinc funded $1,100,000 as part of an existing $8,500,000 senior secured trade finance facility to an energy efficient Moroccan-based scrap metal recycler and processor. With an interest rate of one month Libor +10.50%, the transaction is secured by inventory and receivables and is set to mature on July 17, 2017. It is anticipated that TriLinc’s financing will support the borrower’s strategy of enhancing its energy efficiency process and products, utilizing local micro, small, and medium size suppliers, increasing market access in West Africa, and growing its employee base.

On October 24, 2016, TriLinc funded $1,000,000 to an Ecuadorian fish processing and exporting company as part of an existing $2,000,000 revolving senior secured trade finance facility at a fixed interest rate of 9.00%. With a maturity date of June 19, 2017, the transaction is secured by specific receivables and inventory destined for export. The borrower anticipates that TriLinc financing will continue to support employment generation and increases in employee wages.

“From supporting the production of critical infrastructure inputs in Morocco to the processing and export of fresh Ecuadorian seafood, TriLinc’s recent investment activity represents how we finance key agricultural and manufacturing industries that drive long-term economic development in Africa and Latin America,” said Gloria Nelund, TriLinc CEO. “Moreover, these investments demonstrate how TriLinc seeks to deepen its relationship with borrowers that need access to timely and efficient capital and continue to have strong impact profiles in both their country and industry contexts.”

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.

Contacts

TriLinc Global Impact Fund
Gloria Nelund
Chief Executive Officer
310-220-0871

Release Summary

TriLinc Global Impact Fund Makes Impact Investments in Africa and Latin America

Contacts

TriLinc Global Impact Fund
Gloria Nelund
Chief Executive Officer
310-220-0871