$8 million credit facility to sugar processor

  • Bank referred $130 million revenue sugar processor seeking an $8 million line of credit
     
  • Bank passed because the company was losing money due to a failed hedging strategy
     
  • Veritas approved transaction based on the in-formula borrowing base and projected profitability upon the expiration of the hedging contract
     
  • Borrower moved its operating accounts to the referring bank

  • 18 months after closing loan with Veritas, referring bank refinanced the loan resulting in a win-win-win