Barclays joins Stenn’s trade finance securitization

By Owen Sanderson
03 Jun 2020

Non-bank trade finance provider Stenn has boosted the size of its main securitization facility, adding Barclays as a new senior lender, despite a backdrop marred by pandemic-related disruptions to short-term markets, and the high profile collapse of commodity trading firms Hin Leong and Agritrade.

Stenn boosted the size of its securitization vehicle, Stenn Asset Funding, from $300m to $500m, bringing on Barclays as a new senior lender and switching credit insurer from AIG to Coface. Existing financing parties NN Investment Partners, Natixis and M&G also supported the programme increase.

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