LC Discounting arrangement for UAE based Sugar trader30 August 2023
Commodity: RAW BROWN SUGAR ICUMSA (600-1200)
Exporting to: Kenya
Importing from: Brazil
Quantity: 12,000 MT
Value: USD 8.28 Million
Payment Terms: 120 days from BL date
We are thrilled to announce the successful completion of a significant Export LC Discounting transaction!
Our client, an Agri-commodity trader based in the UAE has approached Capo Fin Corporation with a request to arrange Export LC discounting on a 120-day deferred LC issued by a Tier 1 Kenyan bank amounting to USD 8.28Mn.
After careful study, negotiation, and diligent effort from all parties involved, we are pleased to confirm that the transaction has been executed smoothly and to everyone’s satisfaction.
Brazilian sugarcane accounts for 48% of the world’s exports of this commodity, making it the greatest producer in the world today. Brazil also leads the world in the manufacturing of ethanol and sugar. The abbreviation ICUMSA stands for the International Commission for Uniform Methods of Sugar Analysis.
This accomplishment underscores our commitment to delivering value to our stakeholders, and it would not have been possible without the hard work and dedication of our team members, partner banks, and collaborators.
We look forward to the positive impact this transaction will have on our organization’s growth and future success.
CapoFin can help in arranging LC discounting lines from international and local banks. To apply for LC discounting, click here.