Business
Inventory Funding and Investor Update
Inventory Funding and Investor Update.
About this update from Supply@me Capital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5946Y\n Supply @ME Capital PLC \n 10 September 2020\n \n \n \n \n 10 September 2020\n \n \n Supply@Me Capital plc\n (The \"Company\", \"SYME\" or \"Supply@Me\")\n Inventory funding and institutional investors relationship update\n \n Supply@ME Capital plc, the innovative fintech platform which provides a unique, market leading Inventory Monetisation© service to European manufacturing and trading companies, is pleased to announce the following updates.\n \n 1. Securitised Note Issuance (through StormHarbour Securities)\n As planned, the Company has received offers, subject to contract, from a number of large, global institutional investors, to provide funding, in the form of securitisation notes, in order to monetise more than €300m of inventory. There has been strong demand from a number of investment funds (including private equity and multilateral financial institutions supporting businesses that are promoting post COVID growth) which are individually requesting exclusivity for the securitisation notes issuance, and which are also remaining available for strategic support to the Company for the next funding rounds. The Company is currently analysing whether to syndicate this first securitisation issuance or work on an exclusive basis with one of the Funds mentioned above. Meanwhile SYME is keen to complete the signing of binding contracts with regard to the Client companies forming part of the securitisation portfolio by the end of September.\n \n 2. UK Programme\n The funding due diligence provided by a leading UK capital markets organisation has been positively completed. The Company is negotiating a funding term sheet in order to commence delivery of the inventory monetisation service in respect of the first portfolio of UK Client companies.\n \n 3. Italian Sell-funding agreements\n The Company has agreed the key terms of the partnership with 2 local Banks. With one of these, the Parties are studying a more extended relationship. Pursuant to banking regulation, the agreements with SYME will be approved by the relevant internal committees by the end of September.\n Furthermore, the Company has been invited to a tender promoted by Finlombarda (the main Lombardy public bank) in relation to fintech services to be provided to local SMEs.\n \n 4....