Subject: FNC
Tradewind Finance Adds EUR 35 Million Factoring Facility for Steel Manufacturer in Europe, Funds Largest Single Shipment To Date
MÖNCHENGLADBACH, Germany, March 18, 2024 /PRNewswire/ -- Businesses dealing in lower-priced, lower margin products typically need to sell higher volumes to turn a profit. Financing exports can facilitate large enough shipments to achieve profitability in these cases.
In this vein, Tradewind Finance, a global trade finance firm, is pleased to announce an additional factoring facility of EUR 35 million for one of its longstanding clients, a steel manufacturer based in Europe with operations worldwide. The facility was structured for the manufacturer's European business. As part of today's announcement, the firm is also proud to share that it has funded its largest single shipment of nearly EUR 15 million for an entirely full vessel of square billets, a product made from scrap metal.
The German vessel used in the transaction, which had a port of loading in Oman and was unloaded in Italy, carried 14,005 pieces of billets and weighed 29,507 metric tons. The lower margin billets sold at scale from the shipload can be expected to increase profitability for the steel client.
The new financing marks Tradewind's continued commitment of providing financial and trade support for the commodities industry, as well as its ability to scale funding in line with its clients' growth. The record funding installment is a milestone for Tradewind in its nearly 25 years of providing tailor-made trade finance for its clients.
About Tradewind Finance
Founded in 2000, Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, India, Pakistan, Peru, Turkey, UAE, and the USA as well as the headquarters in Germany. Combining financing, credit protection, and collections into a single suite of trade finance products, Tradewind brings streamlined, flexible, and best-in-class services to the world's exporters and importers.
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