UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 26, 2018
TriLinc Global Impact Fund, LLC
(Exact name of Registrant as Specified in Its Charter)
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Delaware |
000-55432 |
36-4732802 |
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(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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1230 Rosecrans Avenue, Suite 605 Manhattan Beach, CA |
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90266 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s Telephone Number, Including Area Code: (310) 997-0580
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Portfolio Update
As of November 30, 2018, TriLinc Global Impact Fund (“TriLinc”) had $442.8 million in total financing commitments for business expansion and socioeconomic development through its investment portfolio in Sub-Saharan Africa, Latin America, Southeast Asia, and Emerging Europe. The weighted average loan size of the portfolio is $9.4 million with an average duration of 1.85 years. Since TriLinc commenced operations and through November 30, 2018, TriLinc has funded over $1 billion in aggregate investments to 80 borrower companies, including $95.5 million in temporary investments. TriLinc has funded over $327.1 million to 23 borrower companies operating in nine developing economies within Latin America, supporting 16,415 permanent employees; over $455.2 million to 45 borrower companies operating in or trading with 21 developing economies within Sub-Saharan Africa, supporting 18,302 permanent employees; over $153.7 million to 10 borrower companies operating in or trading with four developing economies within Southeast Asia, supporting 793 permanent employees; and over $9.5 million to two borrower companies in two countries within Emerging Europe, supporting 237 permanent employees. Of the aggregate investment amount, TriLinc has received $634.6 million in full aggregate transaction repayments (61.46% of total invested) from existing and exited trade finance, term loan, and temporary investment facilities.
November Press Release
On December 26, 2018, TriLinc Global Impact Fund, LLC issued a press release to announce its investment activity for November 2018. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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ITEM 9.01 FINANCIAL STATEMENT AND EXHIBITS. |
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(d) |
Exhibits |
The following Exhibit is filed as part of this report.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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TRILINC GLOBAL IMPACT FUND, LLC |
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December 26, 2018 |
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By: |
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/s/ Gloria S. Nelund |
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Name: |
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Gloria S. Nelund |
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Title: |
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Chief Executive Officer |
Exhibit 99.1
NEW INVESTMENTS PRESS RELEASE OF TRILINC GLOBAL IMPACT FUND, LLC
Los Angeles, CA (December 26, 2018) - TriLinc Global Impact Fund (“TriLinc”) announced today that it recently approved $7 million in trade finance transactions, bringing total financing commitments as of November 30, 2018 to $442.8 million for business expansion and socioeconomic development through its holdings in Sub-Saharan Africa, Latin America, Southeast Asia, and Emerging Europe.
TriLinc is an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises (“SMEs”) in developing economies where access to affordable capital is significantly limited. Impact Investing is defined as investing with the specific objective of achieving a competitive financial return as well as creating positive, measurable impact in communities across the globe. The transaction details are summarized below.
On November 2, 2018 TriLinc funded two separate transactions, totaling $7,000,000 as part of an existing $16,000,000 revolving senior secured trade finance facility with a mobile phone distributor based in Hong Kong, which specializes in the trading and distribution of mobile phones, cameras, music players and home appliances. The borrower was appointed to be the exclusive distributor in India of high quality, affordable mobile phones for a multinational networking and telecommunications equipment company. Priced at 10.00%, the transactions are set to mature on January 20, 2019 and February 1, 2019 and are secured by receivables, personal and corporate guarantees, a collection account, and properties in Hong Kong, with a collateral coverage ratio of ≥1.17x. India has the fastest-growing smartphone market in the world, and TriLinc’s financing will support the distribution of mobile phones throughout the country that are both high quality and affordable. In addition to expanding access to technology within India, the borrower maintains an active corporate social responsibility program in India that is focused on bringing technological education to the youth in West Bengal.
“TriLinc’s recent investment activity demonstrates our commitment to deepening relationships with existing borrower companies,” said Gloria Nelund, CEO of TriLinc. “TriLinc has extended over $50 million in financing to the mobile phone distributor since July 2017 in order to support the company in scaling its distribution network in the Indian market.”
About TriLinc Global Impact Fund
TriLinc is a non-traded, externally managed, limited liability company that makes impact investments in SMEs in developing economies that provide the opportunity to achieve both competitive financial returns and positive measurable impact. TriLinc invests in SMEs through experienced local market sub-advisors, and expects to create a diversified portfolio of financial assets consisting primarily of collateralized private debt instruments. In addition, the Company aggregates and analyzes social, economic, and environmental impact data to track progress and measure success against stated objectives.