 TFC CLOSES SECOND REVOLVING SUPPLIER CREDIT FACILITY FOR PHILIPPINES CONSTRUCTION BAR MILL
Trade Finance Corporation (TFC) has completed a second eight figure USD supplier credit arrangement for Philippines only construction bar mill. This follows completion of an earlier deal in September 2008.Our client operates two mills in Philippines and supplies bars to large Philippine construction groups on credit terms.
The supply of raw material, billet and scrap, the processing period and the receivable period are all covered under the supplier credit arrangements. The supplier and financier is a London headquartered international steel group. The deal is structured as a 120 day revolver.
TFC worked very closely with TFC Brokerage Ltd  to close this transaction with additional support provided by TFC Capital  Manila office.
STAFF CHANGES
Trade Finance Corporation/TFC Capital welcomes back Alice Siu to Hong Kong headquarters. Alice will take over from Kiera Ma as Head of TFC’s China business for debt, trade finance and equity. Kiera, who is to start a Master of Finance course, will remain with TFC on a part time basis for the duration of her study.
NOTICE: ROBERT KEITH DAVIES AND ANTHONY GOWER GILKS
As announced previously both the above mentioned have ceased their association and employment with TFC Financial Group of companies. Neither Mr. Davies nor Mr. Gilks have any agreement to represent or partner TFC companies in any way.
Whatever business they have chosen to undertake we wish them well but wish to categorically state that neither has any working relationship with TFC Group currently.
BROKERAGE WRAPPING UP PHILIPPINES RISK
TFC Brokerage arranged the renewal of an eight figure USD supplier credit facility for an international trading house. This was supported by credit insurance in respect of a key commercial manufacturer in the Philippines, despite capacity and appetite constraints in both trade and country sectors.
Our achievement follows a major commitment to a country with great opportunities, a resilient and thriving economy - an emerging market where TFCB can add its specialist knowledge in working with banks, corporates and intermediaries. Mr. Mark Cooper, Managing Director said ‘TFCB is experiencing considerable interest from many sectors allowing deals to be completed and risks mitigated in a brand new way."
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