Following success of note issuance under the Serica umbrella, and recognising continued investor demand for access to the trade finance asset class in a fixed income format, ARIA successfully closed a deal with OCBC bank to issue future transactions.
The Singapore banking giant will act as issuing agent for future secured fixed income transactions. The bank will wrap trade finance transactions sourced and managed by ARIA Commodity Finance Fund and transform them into fixed income securities under their $3 billion Structured Note Programme. The deal to work together was signed in October 2020 after the bank completed its in-depth due diligence. By having an internationally recognised bank scrutinise the fund to such a high degree before acceptance into their note programme will provide investors with an extra layer of comfort.
The Notes make asset-backed, credit insured and bank guaranteed trade finance transactions available to a new set of investors who can only purchase assets with an ISIN. The first notes will be issued to investors in December 2020.