Malta-Based MFC Mer­chant Bank ob­tains ac­cess to €140 Mil­lion credit line

Malta Independent - - BUSINESS / CLASSIFIEDS -

MFC Mer­chant Bank an­nounces that it has ob­tained ac­cess to a non-re­course fac­tor­ing credit line of €140 mil­lion from a lead­ing Euro­pean bank to fi­nance its busi­nesses.

Fac­tor­ing is one of the prod­ucts MFC Mer­chant Bank of­fers, in which a busi­ness, such as a sup­plier of goods, sells its in­voices to a bank at a dis­count. The busi­ness ob­tains im­me­di­ate liq­uid­ity while the bank re­ceives full pay­ment from the debtor at ma­tu­rity of in­voice.

“We are pleased with this an­nounce­ment, which will en­able us to fi­nance ad­di­tional trans­ac­tions for the MFC Group of com­pa­nies and ex­pand our non-re­course fac­tor­ing ser­vices to third party clients in the near fu­ture,” said Otto Karasek, Pres­i­dent of MFC Mer­chant Bank.

MFC Mer­chant Bank is a spe­cialty trade and struc­tured fi­nance bank based in Malta.

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