A few days ago, Geneva-based fertilizer trading company Orcom SA had the first drawing under a newly set up credit facility.
The company, which had so far primarily been financing its activity on the basis of its equity, is pleased with this new milestone.
Such evolution is driven by the development of the company’s activities and the potential envisioned.
Neither the name of the bank nor the amount of the facility could be disclosed, but the facility, which was arranged by Cofarco, allows the financing of purchases under prepayment from an African supplier and sales to the international markets. It is uncommitted, self-liquidating and secured by underlying goods and/or trade receivables on the sale side.
Orcom was founded in May 2016 by Michaël Sebag, former Senior trader and Co-Managing director at Mekatrade.