[October 31, 2014] |
|
TriLinc Global Impact Fund Makes Impact Investments in South Africa
LOS ANGELES --(Business Wire)--
TriLinc Global Impact Fund ("TriLinc" or the "Company") announced today
that it has recently approved $2.8 million in two trade finance
facilities to companies in South Africa. 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 October 9 and October 10, 2014, TriLinc funded $176,633 and $167,607,
respectively, as part of a trade finance transaction of up to $550,000
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 April 9, 2015, is supported by specific
piping and fitting inventory. The borrower anticipates that the
financing will enable it to increase job creation.
On October 23, 2014, TriLinc funded a $2,500,000 trade finance
transaction at a rate of 17.5% to a South African mine remediation
company engaged in the remediation of a recently shuttered zinc mine.
The borrower's activities include the creation of a rehabilitation fund,
dismantling and disposal of mining equipment, removal and sale of
tailings, and monitoring of ground water. The transaction, set to mature
on October 1, 2015, is supported by inventory and receivables. In
addition to recovering commercial-use materials from the soil, the
remediation activities mitigate the environmental effects of the former
mine. The borrower anticipates that the financing will enable it to
generate employment opportunities.
"TriLinc's financing to expansion-stage, progressive SMEs in developing
economies reflects our belief that providing capital to promising yet
under-funded companies contributes to the global sustainable economy,"
said Gloria Nelund, TriLinc CEO. "We help SMEs that are committed to job
creation and social and environmental impact to grow, and in doing so
they foster vibrant communities around the world."
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.
[ Back To TMCnet.com's Homepage ]
|