Extension of trade finance facilities and further investment in Trade Finance Partners
Trade Finance Partners is delighted to announce that it has now extended its existing facilities with its funding partner, Macquarie Bank Limited to support the next stage of its growth. Furthermore TFP’s existing shareholders have injected a total £5m new subordinated debt capital into TFPL to help fund growth.
As part of the agreement, Macquarie has exercised its option over 20% of the equity of TFPL, acquired equity from a departing director and subscribed for new equity resulting in Macquarie holding 33% of TFPL’s ordinary equity on a fully diluted basis.
Chris Ash, CEO TFP said: “We are delighted to have secured a sizeable uplift in our funding from Macquarie who is an outstanding partner for us. We look forward to being able to offer more and larger facilities into the market which we believe is crying out for true trade finance”.
Nikolaus Woloszczuk, co-head of Macquarie’s lending team in Europe, said: “We are delighted to be able to build on our current engagement with TFPL and to provide the company with additional funds to enable a significant expansion.”