Edinburgh-based Bachmann & Welser Capital Limited, a provider of trade finance and project finance, announced the completion of an $750 million equity capital raise and additional commitments of $500 million from Middle-Eastern investors.
“Our newly established operations in Scotland will employ this additional funding to drive forward our global ambitions … ” said Bachmann & Welser CEO Edward Bachmann in a press release issued by the firm.
“We welcome this timely capital infusion by our investors.
“It is a demonstration of the confidence we enjoy from our financial partners …
“Basel III capital requirement regulations has made it more difficult for mainstream banks to deploy capital in Trade Finance however Bachman & Welser can see a large market opportunity, especially with commodity prices and trade flow continuing their recovery and emerging market demand exceeding Trade Finance supply by some margin.”
Bachman & Welser Capital also announced the establishment of a special fund in partnership with its offshore-based equity provider to support cash-strapped businesses with credit lines.
Ronald Carey, Bachmann & Welser’s chief financial officer, said: “This program will bring great relief to many business owners who are unable to obtain traditional financing from mainstream banks …
“The objective is to grow this program to a multi-billion dollar fund within a reasonable time to support our clients.”