FIMBank wins GTR Best Deal of the Year Award

15.04.2015

Participant in a 2014 pre-export finance deal in Moldova

FIMBank plc’s participation in a structured trade finance solution involving the Trans-Oil Group, Moldova’s primary agricultural company, has led to its winning the award for Best Trade Finance Deal of 2014 in this year’s GTR Leaders in Trade Awards. FIMBank was one of the participating Banks in a US$ 155 million revolving pre-export financing for the Trans-Oil Group, an agro-industrial holding involved in a wide range of activities, and one of Moldova’s top exporters, selling refined oil, vegetable oil, grains and flour, as well as providing silo services across the Black Sea region and upstream to the Danube basin.

The mandated lead arranger for the deal, Soceite’ General, had partnered with the International Finance Corporation (a member of the World Bank Group) and other participating banks apart from FIMBank plc, including Erste Group Bank AG, Banque de Commerce et de Placements SA, Banque Cantonale Vaudoise and the EFA Dynamic Trade Finance Fund Ltd.

FIMBank’s Acting CEO Simon Lay stated that “This pre-export finance deal is the first of its kind in Moldova and will also allow Transoil to consolidate its position as a critical player in the country’s agricultural sector. It could potentially also pave the way for similar deals in the future. The Bank is proud to be associated with a transaction that will directly support agricultural production and exports, thereby strengthening food security in the region.”  

Simon Lay was also pleased to  highlight the fact that London Forfaiting Company (LFC), a fully-owned FIMBank subsidiary, had won the Award for Best Forfaiting House in the GTR Leaders in Trade event: “LFC has been at the forefront of developments in the forfaiting and trade finance services industry for nearly 30 years.  This award is won entirely on merit and further attests to the reputation which LFC has established over the years as a key player in the forfaiting market. Moreover, these awards also serve to boost the standing of FIMBank and London Forfaiting as highly respected and reliable global partners in the specialist world of trade finance, and further justifies the confidence and solid support we are receiving from our controlling shareholders”. 

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