Johan Groothaert

Fiduciam funds French vineyard using wine as security

Fiduciam has provided a French vineyard with a €3m (approximately £2.64m) facility loan with the wine being used as security.

The marketplace lender supplied the three-year loan — which was structured as a multi-drawdown facility — with an initial drawdown of €750,000 (approximately £661,000).

Fiduciam took a charge over the vineyard, along with security over 77,422 bottles of wine and 2,631 hectolitres of wine in barrels.

The loan — which involved five jurisdictions — was taken out by a Luxembourg company, which was principally owned by a high-net-worth individual from the United States, who needed to refinance some existing debt of the vineyard.

“This deal once again demonstrates the cross-border capabilities of Fiduciam and the willingness to lend against trading businesses," said Johan Groothaert, CEO at Fiduciam (pictured above).

"This puts us in a fairly unique position, particularly that our loan IT platform can deal with loans of such complexity.

"This ability allows us to offer interest rates abroad, similar to those we would be offering in the UK.”

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