It was arranged and structured by NIBC Bank Deutschland AG with London-based law firm Reed Smith acting as advisor. Two senior lenders – NIBC and Advance Global Capital – will participate from the start of the deal, while PrimaDollar says that more lenders can be added.
The facility is asset-backed, based on Loan Market Association standard documentation. It is also set up to meet international bankruptcy-remote standards, but without requiring ‘true scale’. PrimaDollar has clients in 20 countries and eight offices spread across three continents. It supports SME exporters in emerging markets with limited access to finance but creditworthy international buyers.
The facility brings its annual financing firepower to over USD 100 million. PrimaDollar says the facility could serve as a financing template for alternative finance providers across Europe and overseas.
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