LOS ANGELES--(BUSINESS WIRE)--TriLinc Global Impact Fund (“TriLinc” or the “Company”) announced today
that it has recently approved $1.9 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 January 20, 2015, TriLinc funded $1,250,000 as part of an existing
$1,250,000 trade finance facility at a fixed interest rate of 17.5% to a
South African dried fruit and nut distributor. The transaction, set to
mature on May 22, 2015, is supported by a purchase and repurchase
agreement that is secured by specific fruit and nut inventory, as well
as receivables. The borrower anticipates that TriLinc financing will
support employment generation.
On January 28, 2015, TriLinc funded $182,109 as part of an existing
$750,000 trade finance facility at a fixed interest rate of 12.75% to a
South African construction materials supplier engaged in importing and
distributing plastic piping and fittings for commercial and residential
infrastructure purposes. The transaction, set to mature on May 29, 2015,
is supported by specific piping and fitting inventory. The borrower
anticipates that TriLinc financing will enable it to increase employment
opportunities.
On January 16, 2015, TriLinc funded $500,000 as part of an existing
$6,000,000 trade finance facility at a fixed interest rate of 10.33% to
an Argentine dairy cooperative. The transaction, set to mature on
November 3, 2015, is supported by a purchase contract with a large
developed market company. The borrower anticipates that TriLinc
financing will support economic growth through job creation, increased
exports and increased agricultural productivity.
“With these recent investments, TriLinc continues to strengthen its
financing relationships with a portfolio of existing borrowers that seek
to create positive economic impact in the developing economies where
they operate,” said Gloria Nelund, TriLinc CEO. “By providing additional
capital to these trade finance facilities, we are increasing our
borrowers’ participation in international commerce and access to 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.