Southeast Asian SME growth financing platform Validus and Citibank announced the establishment of a US$100 million securitisation facility. This will be collateralised by SME loans originated by Validus in Singapore.
In March this year, Validus announced that it had inked a deal to acquire CitiBusiness’ loan portfolio in Singapore.
The facility is also supported by First Plus Asset Management, a Singapore-based multi-asset investment manager focused on Asia structured credit and equities.
Since the facility was established in the second quarter, Validus said that it had doubled its borrower base in Singapore and grew its loan book by 60% across the group over the same time period.
https://fintechnews.sg/63574/lending/sme-lender-validus-and-citi-set-up-us100-million-securitisation-facility/