Amsterdam Trade Bank announces first ever securitisation transaction with Citibank
Amsterdam Trade Bank N.V. announces its first ever securitisation of a portfolio consisting of performing shipping loans. The transaction is arranged by Citibank and securitises a diversified portfolio of performing shipping loans, with borrowers located in a number of traditional shipping jurisdictions. The financing is in the form of a non-recourse four-year term US dollar funding, backed by a loan portfolio with an aggregated outstanding amount of approximately US$250 million. Citibank is providing the senior funding and Amsterdam Trade Bank is retaining the junior exposure to the portfolio.
Harris Antoniou, Chief Executive Officer, commented: “We focus on specific underbanked segments in the large commodity finance, ship finance and asset-backed finance markets where we see an increased demand for financing from our clients. This is the first time we accessed the debt capital markets through a securitisation transaction. This landmark facility is a diversification of our existing funding sources and will enable us to further scale our business and support our clients in The Netherlands and internationally.”
ATB is a fully licensed specialised financial institution focused on the entire spectrum of commodity finance (covering softs, metals and energy), as well as shipping finance, asset-based finance and corporate financing. ATB is also active in the internet retail market in the Netherlands, Germany and Austria offering savings and deposit products. ATB is regulated by the Dutch Central Bank and the Netherlands Authority for the Financial Markets. Located in Amsterdam, The Netherlands, historically one of the world’s most important financial, commodity, maritime and technology hubs, ATB is ideally positioned to find solutions to the challenges its customers face in today’s rapidly changing world, and to offer a distinct set of products and solutions to customers who require structured trade, transactional and/or asset financing.