Standard Chartered’s private banking arm has launched a new alternative credit offering focused on trade finance, giving its high-net-worth investor clients access to a portfolio of short-term post-shipment corporate receivables.

The receivables are originated by Olea, a joint venture set up between the bank and Hong Kong technology company Linklogis in 2021. Olea is a blockchain-enabled trade finance origination and distribution platform that aims to bring together institutional investors seeking opportunities in an alternative asset class with businesses requiring supply chain financing.

In this arrangement, Standard Chartered Private Bank holds the exclusive rights to distribute the receivables. According to the offering prospectus, seen by GTR, the two-year trade receivables note programme has a total volume of US$50mn and carries a target coupon of SOFR plus 2% per annum, which would equate to just over 7% per annum based on today’s SOFR rate.

The underlying trade receivable assets primarily consist of transactions between Asian suppliers from India, Vietnam, China and Singapore, and buyers in OECD and OECD partner countries.