OREANDA-NEWS. Due to the ongoing crisis in the debt capital markets, Transcapitalbank turned to the loan market to source a 1-year trade finance facility in the amount of USD 5 mln, the bank's press service reports.

The funds were provided by U.S. investment company Rosemount Global Trade Finance Fund L.P. (www.rosemountcapital.com) as a first drawing under a facility that may ultimately amount to as much as USD 15 mln.

Despite the continued market turbulence, Transcapitalbank was able to structure this financing in a way that allowed it to achieve an attractive all-in cost of funds.

The proceeds of the facility will be used to finance the import and delivery of "Ford" automobiles for several large car-dealerships that are customers of Transcapitalbank.