Annual turnover of customer: USD 50.0 million
Annual group turnover: Over USD 600.0 million
Facility Arranged: USD 6.0 million
Headquartered in Dubai, Group ABC was formed in 2007. The group is into trading of copper, steel, coal, etc. The group has presence in Middle-East, Singapore and Hong Kong. The group has an annual turnover of over USD 600.0 million and net worth of over USD 55.0 million. The group has relationship with 12 banks with a working capital line of over USD 150.0 million. The Singapore subsidiary was seeking letter of credit (LC) lines for facilitating some LC backed trading opportunities as the trades involved relatively larger suppliers which sells only on LC basis.
Interlinkages Consultancy Limited (ICL) was exclusively mandated to arrange LC lines from new banks for the Singapore subsidiary. ICL was successful in:
Result
The Singapore subsidiary was able to complete the trades, which had minimal risks considering the inherent nature of Back-to-Back LC. The group also benefitted by including a Regional Bank in its portfolio which will have a better ability to scale up the relationship.
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