Hail & Cotton International BV (Hail & Cotton) approached Standard Bank for a USD10 million Revolving Trade Finance facility. This facility was required to finance the purchase, storage and sale of processed tobacco to cigarette manufacturers.
The deal presented a logistical challenge with the Hail & Cotton being located both in Netherlands and United States of America. Meeting the deadline was also vital as the facility needed to be in place before the next procurement season.
Standard Bank South Africa and the International team worked together seamlessly to ensure all the financial requirements where fully met.
Hail & Cotton International BV is one of the largest suppliers of tobacco lead and tobacco industry specific services. Hail & Cotton BV is headquartered in Netherlands. They are responsible for the Group’s international business including Zimbabwe, Malawi, China, India, Bangladesh and Brazil.
Hail & Cotton Inc. is located in Springfield, Tennessee, and is the oldest leaf dealer in the USA. Through their three divisions, HCIG sources leaf tobacco from both its internal growing programs and direct contracting relationships with independent growers as well as unique sourcing agreements. In each instance, the company provides agronomic assistance to ensure tobacco is grown in adherence with good agricultural practices (GAP) and sustainable tobacco production (STP).
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