Daily News: October 29, 2014

Macquarie Bank, Vantage Enter into $50MM Facility

Vantage Commodities Financial Services entered into a $50 million facility with Macquarie Bank to support Vantage’s structured commodity finance and energy supply company (ESCO) credit support business. The transaction enables Vantage to refinance an existing facility with EDF Trading North America (EDF).

J. Scott Perry, Vantage CEO, said, “Our new relationship with Macquarie enables Vantage to expand our commodities finance platform. Over the next 12 months, we will be exploring new ventures and projects that build on our core strengths in providing financing services to retail marketers of electricity and natural gas. Target areas for growth include accounts receivable financing and demand response support. The relationship with Macquarie provides Vantage broad access to the capital markets and allows Vantage to build out its presence in the mezzanine markets related to specialized lending opportunities.”

Vantage provides direct funding to asset-backed opportunities in the energy sector, focusing primarily on accounts receivable and inventory supply financing.