Commodity Trade Finance Facility for Spanish Cocoa Trader

This listing is for a $1.5 million senior secured commodity trade finance facility being arranged by a New York-based commodity trade finance lender/arranger. The facility is intended to support a Spanish cocoa processor and trader that imports cocoa liquor and cake from West Africa, processes it into cocoa powder, and exports it to buyers primarily in North Africa. The financing will cover short-term commodity trade deals, with individual deal amounts ranging from $50,000 to $100,000. The financing structure includes 60% receivable finance (30-60 days), 10% voyage finance (10-20 days), and 30% a combination of voyage and receivable finance, for a total financing period of 40-80 days. Buyer non-payment risk is mitigated by Coface Spain credit insurance. The senior secured lender will provide 85% of each loan, with the arranging business providing the remaining 15% as a junior secured lender. The interest rate is structured as SOFR + 8% per annum, with a floor SOFR of 3.5%.