Multilateral Black Sea Trade And Development Bank ( BSTDB ) Ekspo Faktoring A.Ş. Trade Finance Program
On 1st December 2012, Black Sea Trade and Development Bank’s (BSTDB) Board of Directors has approved a revolving Trade Finance Facility to Ekspo Faktoring A.Ş. in the amount of USD 5 million with a maximum term of 370 days for each disbursement.
On 1st December 2012, Black Sea Trade and Development Bank’s (BSTDB) Board of Directors has approved a revolving Trade Finance Facility to Ekspo Faktoring A.Ş. in the amount of USD 5 million with a maximum term of 370 days for each disbursement. BSTDB’s trade finance business is conducted through selected financial intermediaries (such as commercial banks, leasing companies, ECAs, development banks and factoring companies) within the framework of a credit facility agreement signed between BSTDB and its financial intermediary. This is the first time BSTDB has included a factoring company into its trade finance program.
The proceeds of the Facility will be used by Ekspo Faktoring exclusively for the purpose of providing pre-shipment and/or post-shipment exports and/or imports to those customers in Turkey that import goods from BSTDB’s member countries and/or export goods to all countries.
Ekspo Faktoring A.Ş. is a Turkey based non-bank financial company actively involved in trade finance and asset based lending. The firm is rated BBB+/Baa1 on the national scale by Fitch/Moody’s and Ba3 by Moody’s on the global scale, all with stable outlooks.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. With an authorized capital of SDR 3 billion, the Bank supports economic development and regional cooperation by providing trade and project financing, guarantees, and equity for development projects supporting both public and private enterprises in its member countries. BSTDB is rated A long term and A1 short term, with stable outlook by Standard & Poor’s, and A3/P2 with stable outlook by Moody’s.
