Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Old Hill Partners Closes an $8 million Senior Secured Pre-Export Trade Finance Facility in .
Old Hill PartnersMarch 8, 2021 GMT
DARIEN, Conn., March 08, 2021 (GLOBE NEWSWIRE) Old Hill recently provided an $8 million senior secured pre-export credit facility to a company in Latin America with whom it had a previous lending relationship. The company exports specialty agricultural products to top-tier global distributors. Old Hill’s financing allowed this exporter to lever its inventories during the harvesting and processing cycle resulting in working capital for its business. This is the second such facility Old Hill has provided to this exporter and reflects Old Hill’s interest and expertise in trade finance. Security for the facility consists of physical commodities pledged under warehouse receipts, as well assignment of export contracts and receivables.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Old Hill Partners Completes a $30 million Senior Secured Financing for a Merchant Cash Advance .
Old Hill PartnersJanuary 5, 2021 GMT
DARIEN, Conn., Jan. 05, 2021 (GLOBE NEWSWIRE) Old Hill provided $30 million in the form of a senior secured revolving-to-term credit facility to a specialty finance company that provides working capital to small businesses in the form of merchant cash advances. The facility was secured by a first lien perfected security interest in receivables originated by the borrower.
“We believe that the merchant cash advance space is in the process of emerging from a challenging period and represents an attractive alternative credit opportunity. We have over a decade of experience in this asset class which allowed us to understand the recent distress in the industry and execute on this transaction relatively quickly. We worked very closely with the borrower to cr