Stenn closes $200m securitisation with Natixis, further extending its international trade finance programme toward a multi-billion target

Stenn, a leading provider of cross-border trade finance, closed a $200 million receivables securitisation programme with Natixis to expand its capital markets programme. This programme significantly augments previous capital programmes launched by Stenn.

Founded in 2015, Stenn is already a leading provider of alternative finance, aiming to address the $1.5 trillion ‘trade finance gap’ that the International Chamber of Commerce says demonstrates the potential that exists to make trade more inclusive. Stenn provides fast and secure financing to global importers and exporters who are underserved by the traditional banking industry, helping to unlock capital in the supply chain.

Headquartered in London, Stenn is already present in over 70 countries across the globe, aiming to expand to 120. The funding opens up additional global growth opportunities for the business, enabling it to provide a greater number of suppliers and buyers with access to working capital at an even faster and more agile rate than the traditional banking sector.

Greg Karpovsky, Founder of Stenn, commented: “At Stenn, we constantly work towards shaping the future of cross-border trade finance by building a scalable solution using innovative technology for our investors and clients. I am very excited and proud of the Stenn team along with Natixis and Crayhill who collaboratively built this unique securitisation platform. This allows Stenn and our investors to continue to grow to a multi-billion-dollar programme and welcome more investors as we meet the ongoing needs of international trade finance. In today’s climate, with ongoing discussions of trade wars and an uncertain geopolitical landscape, it’s important that businesses can confidently plan ahead. Access to trade capital is a massive contributor towards being able to do this.”

In addition to the participation from Natixis, the receivables securitisation programme is structured to provide capacity for additional private capital investors. Natixis served as programme arranger and placement agent, and overall programme is tailored for the needs of capital markets investors.

Emmanuel Issanchou, Global Head of Structured Credit & Solutions at Natixis commented: “This multi-jurisdiction securitisation is a perfect example of Natixis’ commitment to creating innovative solutions for the emerging alternative finance market. We are pleased to build upon our already successful partnership with Stenn and to further support Stenn’s growth.”

Michael Tenitsky, Chief Legal Officer of Stenn, commented: “We greatly value the support of Natixis and Crayhill in completing the securitisation programme. This milestone firmly establishes Stenn in the capital markets and lays the foundations to support our rapid growth. Having closed such a complex transaction, we are confident in our ability to execute similar transactions in the future.”

Crayhill Capital Management LP played an active role in structuring the programme and continues to serve as a core capital partner of Stenn.

Josh Eaton, Managing Partner of Crayhill, commented: “Stenn is already a trailblazer in providing international trade finance to underserved markets. This securitisation facility, which will deliver capital at a pace to match Stenn’s origination pipeline, shows that Stenn is at the forefront of alternative finance.”