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Fiduciam funds vineyard in France with wine as security

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  • 23/05/2019
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Fiduciam funds vineyard in France with wine as security
Fiduciam has funded a vineyard in France using the wine as security.

 

The three-year loan was structured as a multi-drawdown facility of €3m with an initial drawdown of €750,000.

Fiduciam took a charge over the vineyard, but in addition it also took security over 77,422 bottles of wine and 2,631 hectolitres of wine in barrels.

The loan was taken out by a Luxembourg company, principally owned by a high net worth individual from the United States who had purchased the vineyard several years ago and now needed to refinance some existing debt of the vineyard.

The vineyard produces a biodynamic wine, with solid distribution, including through Waitrose in the UK.

Fiduciam has announced it is willing to lend against in-bond wine cellars in the UK and to provide a bottle of wine to brokers placing deals with it.

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

“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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