Alternative funder Exporters Credit Corporation (ECC) has launched operations to provide trade finance facilities.
Based in Connecticut, the firm will provide supplier and pre-export credit financing with a tenor of up to eight years and with single limits of up to US$50mn. ECC will finance 100% of the insured portion of each credit on a limited-recourse basis.
The company recently funded a US$40mn subordinated tranche of a US$200mn trade receivables financing for a Fortune 100 industrial company. The receivables pool comprised mostly emerging market receivables and was the first tranche of an ongoing trade financing programme.
Owned and managed by a team of trade finance, credit insurance and structured finance professionals, ECC also acts as a financial advisor to an investment management firm specialising in structured credit and private debt investments on behalf of Asian financial institutions.
Applications for financing are now being accepted.