2020-M11 ETR Briefing
Investabill ETR® are fixed value Exchange Traded Receivables Receivables that are leases, monetary obligations or bills issued under contract for assets, goods and services supplied to investment quality† companies, or credit insured invoices from Investment Grade [IG] insurers. As at M11, Credebt Exchange® held Active RSA of EUR 17.84m, with EUR 24.80m fully allocated. Investors net redemptions were EUR 0.36m in the period with trading of EUR 14.48m+ and all ETR utilised.
Treasury collections at EUR 8.16m of settled ETR was significantly below that of Trading. Partly to be expected for seasonal reasons but still lower than is typical for M11.
Performance 2020-M11 v 2019-M11 trade value was 83.28% higher. Continued international trade finance deals support this business sector as it develops in 2020-Q4. Trade volumes were 13.33% lower than prior year results. Investors withdrawals of c.EUR 0.36m were again seasonally low. The Credebt® Index increased to 102 and remains below that of 2019. Originators may continue to draw comfort from this. Total credebtors was c.6.2k+ and EUR 0.27m was the largest trade.
Trend Yield did not move above its ‘ceiling’ of c1.900%, starting above c.1.820% and ending at c.1.830%. The suggestion that the Exchange should intervene with a temporary boost on initial investment yields was rejected. At current bank deposit negative yields, it is c.2.250% to the positive for Investors for the near to short-term. Total RSA was EUR 17.84m+
† Investment quality is a combination of Investment Grade [IG] organisations & other credit worthy organisations, as determined by AIG and other credit rating providers, from time to time
| BANK BORROWING | TRADE CREDEBT® | |
|---|---|---|
| No personal guarantees * | ||
| No liens/debentures * | ||
| Quick application | ||
| Quick decision | ||
| Commercial perspective | ||
| Consultative process | ||
| No credit limits | ||
| Light on administration | ||
| Quick access to cash | ||
| No exit fees * |