TriLinc Global Impact Fund announced today that it has approved an
additional $1.5 million in term loans and trade finance to companies
operating in Sub-Saharan Africa and Latin America, bringing total
financing commitments as of September 30, 2018 to $402.1 million for
business expansion and socioeconomic development through its holdings in
Sub-Saharan Africa, Latin America, Southeast Asia, and Emerging Europe.
LOS ANGELES–(BUSINESS WIRE)–TriLinc Global Impact Fund (“TriLinc” or the “Company”) announced today
that it recently approved $1.5 million in term loan transactions with
companies operating in Sub-Saharan Africa and Latin America. 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 in communities across the globe.
TriLinc recently approved $1.5 million in term loan transactions that
meet the Company’s requirements for underwriting, economic development,
and societal advancement, as described below:
On September 4, 2018, TriLinc funded $665,365 as part of an existing
$15,000,000 senior secured 4.2-year term loan facility to a consumer
lender in Colombia that services public sector employees and retirees
within small and medium size government agencies throughout the country.
With the most recent funding, the current total outstanding loan amount
pursuant to this loan facility is $6,037,435. Priced at 11.25%, the
transaction is set to mature on August 1, 2021, and is secured by the
portfolio of payroll deduction loans and all cash flow stemming from
such assigned deduction loans, with a cash flow coverage ratio of 1.1x.
The borrower anticipates that TriLinc’s loan will assist the borrower in
originating new payroll deduction loans, which would provide middle
income consumers with timely and flexible financing for voluntary
On September 27, 2018, TriLinc funded a new participation in two
separate transactions, totaling $826,261, in two existing senior secured
trade finance facilities originated by its sub-advisor, Barak Fund
Management Ltd (“Barak”), to a South African electronics assembler.
TriLinc’s total participation commitment amount to the borrower is
$7,826,261. Priced at 12.00% and 13.00%, both transactions are set to
mature on January 25, 2019 and are secured by the stock delivered to the
warehouse, with a collateral coverage ratio of 1.17x. The borrower
anticipates that TriLinc’s financing will increase the supply of
affordable and accessible mobile technology in the region. In addition,
pursuant to the agreement between TriLinc and Barak, after October 25,
2018, TriLinc has the right to sell the participation back to Barak upon
10 business day notice at a price equal to 100% of outstanding principal
plus accrued interest as of the date of sale.
“TriLinc’s recent investment activity demonstrates our commitment to
deepening relationships with existing borrower companies,” said Gloria
Nelund, CEO of TriLinc. “By extending additional financing to companies
like the electronics assembler, which TriLinc initially funded in August
2015, TriLinc is strengthening its economic development thesis of
supporting SMEs that are providing local access to affordable consumer
products and services.”
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. In addition, the Company
aggregates and analyzes social, economic, and environmental impact data
to track progress and measure success against stated objectives.
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.
TriLinc Global, LLC
Rob Kronman, 424-200-6202