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AgroTraders – trade finance revolver
26 March 2010
Local flavour for Nigerian cocoa producer
Diversification of the Nigerian economy is vital to the country’s development. One sector that is ripe for targeting is agriculture, although very little financing has been available to date largely because of the scarcity of lenders. This transaction breaks that picture. It is an overall $15 million revolving trade finance facility for Nigerian cocoa producer Agro Traders Limited (ATL), proving that deals can get done where there is dedication, expertise and above all local input.The local presence in this case is arranger Stanbic IBTC Bank, a product of the merger between IBTC Chartered Bank and Stanbic Bank Nigeria Limited. It is now part of...
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