TriLinc Global Impact Fund LLC 8-K, filed Sep 24, 2021
TriLinc Global Impact Fund LLC (TRLC)
About this 8-K
TriLinc Global Impact Fund LLC filed this 8-K on September 24, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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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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).
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ITEM 8.01 OTHER EVENTS.
Portfolio Update
As of August 31, 2021, TriLinc Global Impact Fund, LLC (“TGIF”) had $402.7 million in total financing commitments for business expansions and socioeconomic developments through its investment portfolio in Sub-Saharan Africa, Latin America, Southeast Asia, and Emerging Europe. The weighted average loan size of the portfolio is $8.4 million, with an average duration of 1.5 years. Since TGIF commenced operations and through August 31, 2021, TGIF has funded over $1.1 billion in aggregate investments to 93 borrower companies, including $104.7 million in temporary investments. Of the aggregate investment amount, TGIF has received $826 million in full aggregate transaction repayments (69.5% of total invested) from existing and exited trade finance, term loan, and temporary investment facilities. Regionally, excluding temporary investments, TGIF has funded over $366.2 million to 29 borrower companies operating in 9 developing economies within Latin America, supporting 19,528 permanent employees; over $506.7 million to 49 borrower companies operating in or trading with 21 developing economies within Sub-Saharan Africa, supporting 18,158 permanent employees; over $187.7 million to 12 borrower companies operating in or trading with five developing economies within Southeast Asia, supporting 950 permanent employees; and over $19.6 million to three borrower companies in three countries within Emerging Europe, supporting 716 permanent employees.
August Press Release
On September 24, 2021, TGIF issued a press release to announce its investment activity for August 2021. 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 STATEMENTS AND EXHIBITS. |
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Exhibits
The following Exhibits are filed as part of this report. |
Exhibit 104 Cover page Interactive Date File (formatted as inline XBRL)
Forward-Looking Statements
This Current Report on Form 8-K, including the exhibits filed herewith, contains forward-looking statements (including, without limitation, statements concerning the use of financing provided to borrowers and the expected repayment of financing extended to the borrowers) that are based on TGIF’s current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties, including, without limitation, the future operating performance of the borrowers and those risks set forth in the “Risk Factors” section of TGIF’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (“SEC”) on March 31, 2021, as amended or supplemented by TGIF’s other filings with the SEC. Although these forward-looking statements reflect management’s beliefs as to future events, actual events or TGIF’s investments and results of operations could differ materially from those expressed or implied in these forward-looking statements. To the extent that TGIF’s assumptions differ from actual results, TGIF’s ability to meet such forward-looking statements may be significantly hindered. You are cautioned not to place undue reliance on any forward-looking statements. TGIF cannot assure you that it will attain its investment objectives. Any forward-looking statements presented herein are made only as of the date of this Current Report on Form 8-K, and TGIF does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
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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September 24, 2021 |
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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 (September 24, 2021) - TriLinc Global Impact Fund, LLC (“TriLinc Global Impact Fund” or “TGIF”) announced today that it recently acquired $330,263 of participations in a term loan facility, bringing total financing commitments as of August 31, 2021 to $402.7 million for business expansions and socioeconomic developments through its holdings in Sub-Saharan Africa, Latin America, Southeast Asia, and Emerging Europe.
TGIF is an impact investing company that provides growth-stage loans and trade finance to established small and medium enterprises (“SMEs”) primarily 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 August 5, 2021, TGIF funded $330,263 as part of an existing four-year term loan facility to a grain processor formed in the United States and operating in Uganda. Priced at 11.5%, this transaction is set to mature on June 30, 2025. The facility will support the borrower’s ability to provide financial liquidity to its core farming and grain trading operations.
“By extending financing to the grain processor, TGIF is demonstrating its continued commitment to businesses that have positive environmental and social impact in Sub-Saharan Africa,” said Gloria Nelund, CEO of TGIF. “More specifically, we are confident that this financing will further enhance the competitiveness of the grain processor and support the company’s steady growth trajectory during periods of limited capital availability.”
About TriLinc Global Impact Fund
TGIF is a public non-listed, externally managed, limited liability company that makes impact investments in SMEs, primarily in developing economies, that provide the opportunity to achieve both competitive financial returns and positive measurable impact. TGIF invests in SMEs through experienced local market sub-advisors to create a diversified portfolio of financial assets consisting primarily of collateralized private debt instruments. In addition, TGIF aggregates and analyzes social, economic, and environmental impact data to track borrowers’ progress and measure success against stated objectives.
Forward-Looking Statements
This press release contains forward-looking statements (including, without limitation, statements concerning the use of financing provided to borrowers and the expected repayment of financing extended to the borrowers) that are based on TGIF’s current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties, including, without limitation, the future operating performance of the borrowers and those risks set forth in the “Risk Factors” section of TGIF’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (“SEC”) on March 31, 2021, as amended or supplemented by TGIF’s other filings with the SEC. Although these forward-looking statements reflect management’s beliefs as to future events, actual events or TGIF’s investments and results of operations could differ materially from those expressed or implied in these forward-looking statements. To the extent that TGIF’s assumptions differ from actual results, TGIF’s ability to meet such forward-looking statements may be significantly hindered. You are cautioned not to place undue reliance on any forward-looking statements. TGIF cannot assure you that it will attain its investment objectives. Any forward-looking statements presented herein are made only as of the date of this press release, and TGIF does not undertake any obligation to update or revise any
forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.