UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 8, 2018
TriLinc Global Impact Fund, LLC
(Exact name of Registrant as Specified in Its Charter)
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Delaware |
000-55432 |
36-4732802 |
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(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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1230 Rosecrans Avenue, Suite 605 Manhattan Beach, CA |
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90266 |
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(Address of Principal Executive Offices) |
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Registrant’s Telephone Number, Including Area Code: (310) 997-0580
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 ) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01 Amendments to the Distribution Reinvestment Plan and Unit Repurchase Program; February Press Release
Amendments to the Distribution Reinvestment Plan and Unit Repurchase Program
On March 7, 2018, the board of managers (the “Board”) of TriLinc Global Impact Fund, LLC (the “Company”) approved the Third Amended and Restated Distribution Reinvestment Plan (the “Amended DRP”). Commencing on March 30, 2018, the date on which the distributions declared for the month of March 2018 will be reinvested (the “DRP Effective Date”), the Company amended the price at which additional units of the same class may be purchased pursuant to the distribution reinvestment plan to a price equal to the estimated net asset value (“NAV”) per unit of the unit class being reinvested, as most recently disclosed by the Company in a public filing with the Securities and Exchange Commission (the “SEC”). Accordingly, the Amended DRP will supersede and replace the Company’s current distribution reinvestment plan as of the DRP Effective Date and the new offering price under the Amended DRP will first be applied to distributions declared for the month of March 2018, which will be reinvested on March 30, 2018.
Additionally, on March 7, 2018, the Board approved the Third Amended and Restated Unit Repurchase Program (the “Amended URP”). The Company amended the price at which units presented for redemption will be repurchased, beginning with units to be repurchased by the Company on the last day of the first quarter of 2018 (the “URP Effective Date”) . Subject to the limitations of the Amended URP, beginning on the URP Effective Date, units repurchased under the Amended URP will be repurchased at a price equal to the estimated NAV per unit of the unit class being repurchased, as most recently disclosed by the Company in a public filing with the SEC. Accordingly, the Amended URP will supersede and replace the Company’s current unit repurchase program as of the URP Effective Date and the new offering price under the Amended URP will first be applied to units repurchased by the Company on the last day of the first quarter of 2018.
This Current Report on Form 8-K serves as the written notification of an amendment per the terms of the current distribution reinvestment plan and the current unit repurchase program.
The preceding summary of the Amended DRP and the Amended URP does not purport to be complete and is qualified in its entirety by reference to the Third Amended and Restated Distribution Reinvestment Plan and the Third Amended and Restated Unit Repurchase Program, a copy of which is filed herewith as Exhibit 4.1 and 4.2, respectively, and incorporated herein by reference.
February Press Release
On March 8, 2018, TriLinc Global Impact Fund, LLC issued a press release to announce its investment activity for February 2018. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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ITEM 9.01 FINANCIAL STATEMENT AND EXHIBITS. |
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(d) |
Exhibits |
The following Exhibit is filed as part of this report.
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This Current Report on Form 8-K, including the exhibits filed herewith, contains forward-looking statements (including, without limitation, future redemptions pursuant to the Amended URP and future reinvestments of cash distributions pursuant to the Amended DRP) that are based on the Company’s current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties, including, without limitation, the future operating performance of the Company’s investments, the level of participation in the Amended DRP and the Amended URP, and those risks set forth in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, as amended or supplemented by the Company’s other filings with the Commission. Although these forward-looking statements reflect management’s belief as to future events, actual events or the Company’s investments and results of operations could differ materially from those expressed or implied in these forward-looking statements. To the extent that the Company’s assumptions differ from actual results, the Company’s ability to meet such forward-looking statements may be significantly hindered. You are cautioned not to place undue reliance on any forward-looking statements. The Company cannot assure you that it will attain its investment objectives.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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TRILINC GLOBAL IMPACT FUND, LLC |
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March 8, 2018 |
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By: |
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/s/ Gloria S. Nelund |
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Name: |
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Gloria S. Nelund |
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Title: |
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Chief Executive Officer |
EXHIBIT 4.1
TRILINC GLOBAL IMPACT FUND, LLC
THIRD AMENDED AND RESTATED DISTRIBUTION REINVESTMENT PLAN
Effective as of March 30, 2018
TriLinc Global Impact Fund, LLC, a Delaware limited liability company (the “Company”), has adopted the following Third Amended and Restated Distribution Reinvestment Plan (the “DRP”). Capitalized terms shall have the same meaning as set forth in the Company’s Fifth Amended and Restated Limited Liability Company Operating Agreement, as such agreement may be amended (“Operating Agreement”) unless otherwise defined herein.
1. Distribution Reinvestment . As an agent for the unitholders (“Unitholders”) of the Company who purchase units of the Company’s limited liability company interests (the “Units”) pursuant to a public offering by the Company, and who elect to participate in the DRP (the “Participants”), the Company will apply all or a portion of cash distributions, other than Designated Special Distributions (as defined below), (“Distributions”), including Distributions paid with respect to any full or fractional Units acquired under the DRP, to the purchase of the Units for such Participants directly, if permitted under state securities laws and, if not, through the Dealer Manager or Soliciting Dealers registered in the Participant’s state of residence. The Units purchased pursuant to the DRP shall be of the same Unit class as the Units with respect to which the Participant is receiving cash distributions to be reinvested through DRP. As used in the DRP, the term “Designated Special Distributions” shall mean those cash or other distributions designated as Designated Special Distributions by the Board of Managers.
2. Participation. Any Unitholder who owns Units originally sold in a public offering and who has received a prospectus, as contained in the Company’s Registration Statement filed with the Securities and Exchange Commission (“Commission”), may elect to become a Participant by completing and executing a subscription agreement, an enrollment form or any other appropriate authorization form as may be available from the Company from time to time. Participation in the DRP will begin with the next Distribution payable after receipt of a Participant’s subscription, enrollment or authorization, provided such subscription, enrollment or authorization is received at least 15 business days prior to the last day of the calendar month. Units will be purchased under the DRP on the date that Distributions are paid by the Company. Each Participant agrees that if, at any time prior to the listing of the Units on a national securities exchange, he or she does not meet the minimum income and net worth standards established for making an investment in the Company or cannot make the other representations or warranties set forth in the original subscription agreement or other applicable enrollment form, he or she will promptly so notify the Company in writing.
Participation in the DRP shall continue until such participation is terminated in writing by the Participant pursuant to Section 7 below.
3. Unit Purchases. Any purchases of Units pursuant to the DRP will be dependent on the continued registration of the securities or the availability of an exemption from registration in the Participant’s home state. Each class of units under DRP will be sold at the estimated net asset value per unit for units of that class, as most recently disclosed by the Company in a filing with the Commission. Participants in the DRP may also purchase fractional Units so that 100% of the Distributions will be used to acquire Units. However, a Participant will not be able to acquire DRP Units to the extent that any such purchase would cause such Participant to violate any provision of the Operating Agreement. Units issued pursuant to the DRP will have the same voting rights as the Units offered in a primary offering.
Units to be distributed by the Company in connection with the DRP may (but are not required to) be supplied from: (a) the DRP Units which are being registered with the Commission in connection with a primary offering, (b) Units to be registered with the Commission after the initial public offering for use in the DRP (a “Future Registration”), or (c) Units purchased by the Company for the DRP in a secondary market (if one were to develop) or on a securities exchange (if listed) (collectively, the “Secondary Market”). Units purchased on a Secondary Market as set forth in (c) above will be purchased at the then-prevailing market price, which price will be utilized for purposes of purchases of Units in the DRP. Units acquired by the Company on the Secondary Market will have a price per unit equal to the then-prevailing market price, which shall equal the price on the securities exchange, or over-the-counter market on which such Units are listed at the date of purchase if such Units are then listed. If Units are not so listed, the Board of Managers will determine the price at which Units will be issued under the DRP.
If a Secondary Market were to develop and the Company acquires Units in the Secondary Market for use in the DRP, the Company shall use reasonable efforts to acquire Units for use in the DRP at the lowest price then reasonably available. However, the Company does not in any respect guarantee or warrant that the Units so acquired and purchased by the Participant in the DRP will be at the lowest possible price. Further, irrespective of the Company’s ability to acquire Units in the
Secondary Market or to complete a Future Regis tration for Units to be used in the DRP, the Company is in no way obligated to do either, in its sole discretion.
4. Timing of Purchases. The plan administrator will make every reasonable effort to reinvest all Distributions on the day the cash distribution is paid, except where necessary for the Company to comply with applicable securities laws. If, for any reason beyond the control of the plan administrator, reinvestment of the Distribution cannot be completed within 30 days after the applicable distribution payment date, Participants’ funds held by the plan administrator will be distributed to the Participants.
5. Taxation of Distributions. The reinvestment of Distributions does not relieve the Participant of any taxes which may be payable as a result of those Distributions and their reinvestment in Units pursuant to the terms of the DRP.
6. Commissions. The Company will not pay any selling commissions, dealer manager fees or distribution fees in connection with Units sold pursuant to the DRP. While there are no additional distribution fees that will be paid for any Class C units sold pursuant to this offering, distribution fees have been and may be paid on an ongoing basis for Class C units sold pursuant to other Company offerings. Because distribution fees payable with respect to Class C units sold in other offerings are paid from and reduce the amount available for distribution on all Class C units, distributions will be reduced for Class C units purchased pursuant to the DRP. This will result in lower cash distributions with respect to the Class C Units than the cash distributions with respect to Class A and certain Class I Units.
7. Termination by Participant. A Participant may terminate participation in the DRP at any time by written instructions to that effect to the plan administrator. To be effective on a distribution payment date, the notice of termination must be received by the plan administrator at least 15 days before that distribution payment date. Prior to listing of the Units on a national securities exchange, any transfer of Units by a Participant to a non-Participant will terminate participation in the DRP with respect to the transferred Units. Upon termination of DRP participation, future Distributions, if any, will be distributed to the Unitholder in cash.
All correspondence concerning the plan should be directed to the plan administrator by mail at DST Systems, Inc., P.O. Box 219312, Kansas City, MO 64121-9312.
8. Amendment or Termination by the Company . The Company reserves the right to amend, suspend or terminate the DRP any time by the giving of written notice to each Participant at least 10 days prior to the effective date of the amendment, supplement or termination, which notice may be provided by the Company in a periodic or current report filed with the Commission.
9. No Unit Certificates. The ownership of the Units purchased through the DRP will be in book-entry form only.
10. Reports. The Company shall provide to each Participant a confirmation at least once every calendar quarter showing the number of Units owned by such Participant at the beginning of the covered period, the amount of the Distributions paid in the covered period and the number of Units owned at the end of the covered period. During each fiscal quarter, but in no event later than 30 days after the end of each fiscal quarter, the Company’s transfer agent will mail and/or make electronically available to each Participant, a statement of account describing, as to such Participant, the distributions received during such quarter, the number of Units purchased during such quarter, and the per unit purchase price for such Units.
11. Liability of the Company. The Company shall not be liable for any act done in good faith, or for any good faith omission to act, including, without limitation, any claims or liability: (a) arising out of failure to terminate a Participant’s account upon such Participant’s death prior to receipt of notice in writing of such death; and (b) with respect to the time and the prices at which Units are purchased or sold for Participant’s account.
EXHIBIT 4.2
TRILINC GLOBAL IMPACT FUND, LLC
THIRD AMENDED AND RESTATED UNIT REPURCHASE PROGRAM
The Board of Managers of TriLinc Global Impact Fund, LLC, a Delaware limited liability company (the “ Company ”), has adopted a third amended and restated unit repurchase program (the “ Repurchase Program ”), the terms and conditions of which are set forth below. Capitalized terms shall have the same meaning as set forth in the Company’s Fifth Amended and Restated Limited Liability Company Operating Agreement unless otherwise defined herein.
1. Effective Date of Repurchase Program . The Repurchase Program shall become effective beginning with redemption requests to be processed at the end of the first quarter of 2018.
2. Unit Repurchase . Subject to the terms and conditions of the Repurchase Program, including the limitations on repurchases set forth in paragraph 5 and the procedures for repurchases set forth in paragraph 6, the Company shall repurchase such number of Units as requested by a Member on a quarterly basis. A Member may request that the Company repurchase all of the Units owned by such Member.
3. Repurchase Price . The price at which the Company shall repurchase the Units of a Member is equal to the Company’s estimated net asset value per unit for units of that class, as most recently disclosed by the Company in a filing with the Securities and Exchange Commission.
4. One-year Holding Period . Subject to paragraph 7 below, a Member shall hold his or her units for a minimum of one year before he or she can participate in the Repurchase Program. If a Member made more than one purchase of the Units, the one-year holding period shall be calculated separately with respect to each such purchase.
5. Limitations on Repurchases . The Company’s obligation to repurchase Units hereunder is limited as follows:
a. The Company may repurchase no more than five percent (5%) of the weighted-average number of Units outstanding in any twelve-month period.
b. The Company has no obligation to repurchase Units if the repurchase would violate the restrictions on distributions under federal law or Delaware law.
c. All Units to be repurchased under the Repurchase Program must be (i) fully transferable and not be subject to any liens or other encumbrances and (ii) free from any restrictions on transfer. If the Company determines that a lien or other encumbrance or restriction exists against the Units requested to be repurchased, the Company shall not repurchase any such Units.
Unless the Board of Managers determines otherwise, the Company shall limit the number of Units to be repurchased during any calendar year to the number of Units the Company can repurchase with the proceeds the Company receives from the sale of Units under the Company’s distribution reinvestment plan. At the sole discretion of the Board of Managers, the Company may also use cash on hand, cash available from borrowings and cash from liquidation of investments as of the end of the applicable quarter to repurchase Units.
6. Procedures for Repurchase . The Company shall repurchase Units on the last day of each quarter (the “ Repurchase Date ”). As of the Repurchase Date, repurchased Units shall cease earning distributions notwithstanding the fact that the repurchase payment for such Units may have not yet have been remitted to the former holder of such Units.
For a Member’s Units to be eligible for repurchase in a given quarter, the Company must receive a written repurchase request from the Member or from an authorized representative of the Member setting forth the number of Units requested to be repurchased at least five business days before the Repurchase Date. Members may contact the Company to receive required repurchase forms and instructions concerning required signature. If the Company cannot repurchase all Units presented for repurchase in any quarter because of the limitations on repurchases set forth in paragraph 5, then the Company shall honor repurchase requests on a pro rata basis.
If the Company does not completely satisfy a repurchase request at quarter-end because the Company did not receive the request in time or because of the limitations on repurchases set forth in paragraph 5, then the Company shall treat the unsatisfied portion of the repurchase request as a request for repurchase at the next Repurchase Date, unless the repurchase request is withdrawn. Any Member can withdraw a repurchase request by sending written notice to the Company, provided that such notice is received at least five business days before the Repurchase Date.
7. Special Provisions upon a Member’s Death or Disability . The Company shall treat repurchase requests made upon a Member’s death or disability differently, as follows: The one-year holding period requirement set forth in paragraph 4 above shall be waived. The Company shall not be obligated to repurchase Units if more than 360 days have elapsed since the date of the death or disability of the Member and, in the case of disability, if the Member fails to provide an opinion of a qualified independent physician. For purposes of the Repurchase Program, a disability shall be deemed to have occurred when a Member suffers a disability for a period of time, as determined by the Board of Managers and confirmed by a qualified independent physician.
8. Termination, Suspension or Amendment of the Repurchase Program by the Company . The Board of Managers has the right to amend, suspend or terminate the Repurchase Program. The Company shall promptly notify Members of any changes to the Repurchase Program, including any suspension or termination of it, in the Company’s periodic or current reports filed with the SEC or by means of other notice.
The Repurchase Program shall terminate on the date that the Units are listed on a national securities exchange, are included for quotation in a national securities market or, in the sole determination of the Board of Managers, a secondary trading market for the Units otherwise develops.
9. Liability of the Company . The Company shall not be liable for any act done in good faith or for any good faith omission to act.
10. Governing Law . The Repurchase Program shall be governed by the laws of the State of Delaware.
Exhibit 99.1
NEW INVESTMENTS PRESS RELEASE OF TRILINC GLOBAL IMPACT FUND, LLC
Los Angeles, CA (March 8, 2018) - TriLinc Global Impact Fund (“TriLinc”) announced today that it recently approved $21.0 million in term loan and trade finance transactions, bringing total financing commitments as of February 28, 2018 to $406 million for business expansion and socioeconomic development through its holdings in Sub-Saharan Africa, Latin America, Southeast Asia, and Emerging Europe. The weighted average loan size of the portfolio is $8.40 million with an average duration of 1.9 years. 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. Since TriLinc commenced operations and through February 28, 2018, TriLinc has funded over $873 million in aggregate investments to 75 borrower companies, including $62 million in temporary investments. TriLinc has funded over $304 million to 22 borrower companies operating in nine developing economies within Latin America, supporting 15,328 permanent employees; over $365 million to 42 borrower companies operating in 12 developing economies within Sub-Saharan Africa and four developed economies transacting within the region, supporting 16,840 permanent employees; over $133 million to 10 borrower companies operating in two developing economies within Southeast Asia and three developed economies transacting within the region, supporting 784 permanent employees; and over $8 million to one borrower company in one country within Emerging Europe, supporting four permanent employees. Of the aggregate investment amount, the Company has received $478.5 million in full aggregate transaction repayments (54.81% of total invested) from existing and exited trade finance, term loan, and temporary investment facilities. The transaction details are summarized below.
Between February 5, 2018 and February 9, 2018, TriLinc funded two separate transactions, totaling $2,392,500 as part of an existing $15,000,000 three year term loan facility to a resource trader based in Hong Kong and operating in Indonesia. Priced at 10.00%, the transactions are set to mature on December 31, 2020 and are secured by a corporate and personal guarantee, assignment of contract, and account charge over bank account, with a cash flow coverage ratio of ≥1.17x. TriLinc’s financing will support the purchase and procurement of resources from mid-sized suppliers in Indonesia to be sold to a large Indian multinational. The borrower supports the supply chain on the ground, generally managing all local logistics, regulatory issues, operational risk, and supplier relationships. The borrower is also indirectly supporting job creation and fostering local economic development in Indonesia through its close relationships with supplier companies who are constructing educational and health facilities and enhancing infrastructure development, such as electricity distribution, clean water access, and transportation. Additionally, the borrower is directly addressing the growing electricity demand in India stemming from economic development, urbanization, and improved electricity infrastructure in many regions of the country.
On February 9, 2018, TriLinc funded $2,000,000 as part of an existing $5,000,000 revolving trade finance facility with a Dolphin-Safe certified Ecuadorian tuna processor and exporter. Priced at 9.50%, the transaction is set to mature on May 9, 2018, and is secured by inventory and accounts receivable. TriLinc’s financing aims to support the borrower’s job creation efforts, as the borrower anticipates that it will increase its processing capacity by 30% in the next three years, requiring another work shift and a substantial increase in its workforce. The borrower is dedicated to the wellbeing of its employees, as shown by its offering employees extensive training programs upon hiring, and performing human resource studies to measure the happiness and efficiency of its employees.
On February 12, 2018, TriLinc funded $559,710 as part of an existing $15,000,000 senior secured 4.2-year term loan to a consumer lender in Colombia that services public sector employees and retirees within small and medium size government agencies throughout the country. Priced at 11.24%, 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 2.9x. The borrower anticipates that TriLinc’s loan will assist the company in originating new payroll deduction loans, which would provide middle income consumers with timely and flexible financing for voluntary private consumption.
On February 12, 2018, TriLinc funded $7,685,000 as part of an existing $20,315,000 45-month senior secured term loan to a municipal solid waste-to-jet fuel processor in Mexico. TriLinc Global Sustainable Income Fund, LLC, a private fund sponsored by TriLinc’s sponsor, funded an additional total commitment amount of $5,260,000. TriLinc’s financing will support the development of a services agreement to implement patented waste-to-energy technology in
Mexico and Brazil, where the construction of a waste processing facility and biorefinery will take place. For each new recycling and processing plant constructed, approximately 145,000 tons of municipal solid wa ste feedstock will be converted into 10.5 million gallons of ethanol each year, which will later be converted into renewable jet fuel, in addition to producing sufficient renewable electricity for the facility operations. The borrower believes that the tra nsfer of this technology into the Mexican marketplace will offer cost savings for waste service providers throughout the growing metropolitan areas, decrease methane emissions from a reduction in landfill cover, reduce carbon emissions through promoting th e use of cleaner jet fuel, and create significant employment opportunity for both the construction and operation phases of the facility. Priced at 14.50%, the transaction is set to mature on July 27, 2021 and is secured by preferred shares in the U.S Pate nt owner of the waste-to-fuel technology, and exclusive technical and services agreements with future projects in Mexico and Brazil.
On February 12, 2018, TriLinc funded $2,000,000 as part of an existing $9,000,000 revolving trade finance facility with an Ecuadorian shrimp exporter, whose local suppliers of farm-raised shrimp are all licensed by INP, an Ecuadorian institute specializing in biological, technological, and economic research aimed at the management and development of sustainable fisheries. With a fixed interest rate of 9.25%, the transaction is set to mature on July 29, 2018. The financing is secured by inventory, accounts receivable, and purchase contracts, with a collateral coverage ratio of 3.65x. The borrower uses state-of-the-art, cost-efficient cooling and freezing equipment to preserve the quality of its product and reduce its environmental footprint. TriLinc’s financing will support the borrower’s position as Ecuador’s seventh-largest shrimp exporter, and strengthen the borrower’s ability to offer competitive wages, health services, and childcare support to its employees.
Between February 13, 2018 and February 21, 2018, TriLinc funded three separate transactions, totaling $1,691,786 as part of an existing $10,000,000 senior secured trade finance facility with four different Nigerian cocoa exporters that source cocoa beans at farm gate from local, smallholder farmers and then process them for export. Priced at 17.50%, the transactions are set to mature between October 14, 2018 and October 22, 2018 and are secured by a pledge of goods, assignment of proceeds, goods and in-transit insurance coverage, and credit insurance, with a collateral coverage ratio of ≥1.17x. The majority of the traders’ offtakers are UTZ “Chain of Custody” certified, in addition to members of the World Cocoa Foundation’s voluntary African Cocoa Initiative which aims to increase the sustainability of the cocoa sector within West Africa.
Between February 21, 2018 and February 22, 2018, TriLinc funded two separate transactions, totaling $4,700,000 as part of an existing $11,000,000 revolving senior secured trade finance facility with a mobile phone distributor based in Hong Kong, which specializes in the trading and distribution of mobile phones, cameras, music players and home appliances. The borrower was appointed to be the exclusive distributor in India of high quality, affordable mobile phones for a multinational networking and telecommunications equipment company. Priced at 10.00%, the transactions are set to mature between May 21, 2018 and May 22, 2018 and are secured by receivables, personal and corporate guarantees, a collection account, and properties in Hong Kong, with a collateral coverage ratio of ≥1.17x. India has the fastest-growing smartphone market in the world, and TriLinc’s financing will support the distribution of mobile phones throughout the country that are both high quality and affordable. In addition to expanding access to technology within India, the borrower maintains an active corporate social responsibility program in India that is focused on bringing technological education to the youth in West Bengal.
“TriLinc’s recent investment activity demonstrates our commitment to deepening our relationships with existing borrower companies to provide them with a source of timely capital to meet their growth plans,” said Gloria Nelund, CEO of TriLinc. “Furthermore, these latest transactions demonstrate TriLinc’s support of enterprises, such as the mobile phone distributor, that seek to enhance the competitiveness of core industries by supplying quality products into international markets.”
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.