German financier lends Rs215million to Mauritius clothing company

Germany-based International finance company Tradewind Finance has provided receivables financing of $5 million (approx. Rs215million) to a garment manufacturer in Mauritius.

The company, whose name was not disclosed, reportedly employs 1,200 employees and engaged in manufacturing and finishing denim products for distribution to leading retailers worldwide, including Australia and Europe.

“The company has recovered from the lull brought about by the pandemic to expand its exports and cater to larger buyer requirements with a positive projection for sales, as retail has improved substantially in their target markets, Tradewind said.

Nearly all of the company’s receivables were in EUR and USD currency, with a 90-to-120-day open account billing term. 

“It is a pleasure for us to be able to deliver the liquidity our new client in Mauritius needs to achieve their goals. Providing our client with an open account facility without a collateral requirement will allow them to focus on their core business with no worries about working capital and risk,” Soheil Zali, regional commercial director of Tradewind Asia, said in a statement.

Original article at Tradewindfinance.com