In August 2020, the largest Swiss bank increased Trade Finance line for MIMIER TRADE SA up to USD 30 mln. The financing is supposed to be used for trade transactions with vegetable oils (both bulk and in containers/flexitanks) and petrochemicals products.
«MIMIER TRADE SA signed the facility agreement with Swiss bank in November 2019 for USD 10 mln and in August 2020 increased the line up to USD 30 mln. MIMIER TRADE SA has already approved with the financing bank additional pipe-line of transactions with shipment in September-October 2020. The company is planning to fully utilize the credit line limit that will definitely increase sales volumes», commented Mr. Claude Tarinas Cazenobe, Director & President of the Board of MIMIER TRADE SA.
«The mentioned Trade Finance credit line from the bank works on revolving basis. Once the approved transaction is paid back, the company can utilize next transactions in the rage of general limit of USD 30 mln. MIMIER TRADE SA able to use the line for Letters of Credit and payment guarantees issue. It gives advantages for the company both on diversification of purchase instruments and financing costs», said Iaroslav Gordiienko, Director of MIMIER TRADE SA.
MIMIER TRADE SA sells commodities to more than 25 countries worldwide. EU and South-East Asia remain main sales markets for the MIMIER TRADE SA. This season the company actively develops sales to North America and Africa.
The company plans continue to strengthen its position as an international agricultural trader with good growth visibility in both domestic and international markets. The management of the company is confident that the strategy will continue to generate sustainable growth enabling to deliver strong operational and financial performances in 2020 and beyond.
---------MIMIER TRADE SA is an independent commodity trading company, registers in canton of Luzern (Switzerland). Main activities of MIMIER TRADE SA are agricultural and petrochemical commodities trading. The company is a member of FOSFA, GAFTA and EPCA.