LOS ANGELES--(BUSINESS WIRE)--TriLinc Global Impact Fund (“TriLinc” or the “Company”) announced today that it has recently approved $6.0 million in trade finance transactions to companies in South Africa, Zambia 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 May 11 and May 14, 2015, TriLinc funded two separate transactions totaling $278,015 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. Set to mature on July 30, 2015 and August 13, 2015, respectively, each transaction is secured by specific inventory being imported into South Africa from Asia. The borrower anticipates that TriLinc financing will support employment generation.
On May 15 and May 19, 2015, TriLinc funded two separate transactions totaling $5,000,000 to an Argentine agricultural intermediary as part of an existing $7,000,000 revolving trade finance facility at a fixed interest rate of 9.00%. Both transactions are set to mature on December 15, 2015 and are secured by the assignment of purchase contracts and receivables. The borrower anticipates that TriLinc financing will support economic growth through job creation, increased exports and increased agricultural productivity.
On May 21, 2015, TriLinc funded $720,000 as part of an existing $15,000,000 trade finance facility at an interest rate of 12.50% to a Zambian farm supplies distributor engaged in the warehousing and trading of key agricultural commodities including fertilizer, maize, soya beans, ground nuts and seed. The transaction, set to mature on June 5, 2015, is secured by specific inventory. The borrower anticipates that TriLinc financing will support job creation and indirectly help local farmers improve agricultural productivity and food security.
“Core to TriLinc’s investment strategy is the provision of short-term, flexible capital to SMEs that seek to increase their participation in the global marketplace,” said Gloria Nelund, TriLinc CEO. “With these recent investments, TriLinc has extended additional financing to existing borrower companies looking to improve their positioning in both local and international markets while generating positive economic, social and environmental impact.”
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.
