Synthesis £500 million trade finance securitisation

Overview:

• Synthesis has set up a MTN programme established by three SPVs - Synthesis Trade Finance I, Synthesis Trade Finance II and Synthesis Trade Finance III.
• The $500 million programme will issue notes on the Luxembourg Stock Exchange.
• Synthesis is a Luxembourg based asset manager.
• According to Holman Fenwick Willan, who acted on the matter, the deal is one of the first securitisations of both existing and future trade finance receivables.
• Securitisation structures are seen as a new way to generate funds in the commodities trade finance market.

Sam Duke - Editor