The Pelagic Resources Group (“Pelagic Resources”) is an established global physical commodity merchant, headquartered in Singapore with offices in South Africa, Zimbabwe & China with a core focus on the origination, transformation and financing of speciality metal ore exports.
Teybridge Capital Ltd (“Teybridge”) is a British Virgin Island domiciled Trade Financier focused on the provision of Trade credit facilities to its global client base.
Mercature Trade Finance (Pty) Ltd is a South African company that specialises in arranging, placing and managing structured trade and commodity finance facilities for its clients.
Singapore, 30th April 2020 – Pelagic Resources, a large physical merchant of speciality ores from African origins into global Stainless, Chemical and Foundry markets, successfully closed a $5 million Term loan facility with Teybridge.
“The successful closing of this $5 million Term loan facility with Teybridge, arranged by Mercature Trade Finance, further demonstrates Pelagic’s ability to originate and execute on competitive liquidity solutions during a challenging period in global financial markets. This facility represents an important milestone in Pelagic’s growth that will in turn allow for the Group to grow its long-term physical supply of ore(s) with core operating partners in South Africa. We are thankful to the Teybridge and Mercature teams for their support and professional approach and are looking forward to building the partnership with the Teybridge group going forward” said Pelagic’s group CEO Tom Baring.
“Teybridge Capital are delighted to be a part of this transaction with the Pelagic Resources Group,” said Teybridge’s representative. “We share the vision that this transaction allows for the growth of ore(s) supply and will strengthen Pelagic’s global position. Having strong global partners is an important aspect of our own risk management process and we see this transaction as being a solid fit.”