We are thrilled to announce the successful finalization of the first repurchase agreement in TB Fund 2. This significant milestone was unanimously approved by the joint TradeBacked and CommonGood investment committee, reflecting the commitment to excellence in our investment decisions.
Headquartered in Dubai, UAE, First Trade Global, is a repeat customer of TradeBacked’s proprietary process, with nearly 100% annualized revenue growth in the last three years. The collateral for this repurchase agreement comprises zinc ingots, known for their high liquidity and easy pricing through multiple exchanges. Safely stored in a third-party warehouse for the investment term, these zinc ingots are fully owned by the Fund.
The economic performance of this initial investment aligns seamlessly with our key financial targets, bolstering the 12.5% annual interest paid by the senior secured promissory notes. The first cash distribution to Fund investors has been distributed and we are excited about the positive trajectory and the success of this investment.
