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Old Hill Partners Closes $8MM Senior Secured Pre-Export Trade Finance Facility in Latin America

March 09, 2021, 08:05 AM
Filed Under: Agriculture

Old Hill provided an $8 million senior secured pre-export credit facility to a company in Latin America with whom it had a previous lending relationship. The company exports specialty agricultural products to top-tier global distributors. Old Hill’s financing allowed this exporter to lever its inventories during the harvesting and processing cycle resulting in working capital for its business. This is the second such facility Old Hill has provided to this exporter and reflects Old Hill’s interest and expertise in trade finance. Security for the facility consists of physical commodities pledged under warehouse receipts, as well assignment of export contracts and receivables.

“We worked with this exporter to craft a credit facility that offered attractive advance rates with appropriate risk controls and return. We were able to move quickly to provide a creative but prudent solution to their financing needs. Looking forward, we believe that the easing of the pandemic will restore global trade flows and intensify the need for export finance. Old Hill aims to support growing companies in Latin America and elsewhere as they finance the movement of their products throughout the world.” said Sam Adams, Portfolio Manager at Old Hill.

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