UAE-Based TruKKer Secures US$300 Million Cross-Border Securitization Facility to Support Expansion
Abu Dhabi Commercial Bank served as the sole arranger and sole lender of the facility, which is backed by portfolios of trade receivables across TruKKer’s operating markets.
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TruKKer, a UAE-based digital freight network with operations across the Middle East, has closed an inaugural trade receivables securitization facility of up to US$300 million to support its regional expansion.
Abu Dhabi Commercial Bank PJSC (ADCB) served as the sole arranger and sole lender of the facility, which is backed by portfolios of trade receivables across TruKKer’s operating markets.
The company said the transaction is structured as a non-recourse securitization using a murabaha facility and spans multiple jurisdictions, including the United Arab Emirates, Saudi Arabia and Turkey.
“Transitioning from traditional equity funding to structured, non-recourse securitization requires an institutional-grade technology and financial backbone,” Gaurav Biswas, founder and CEO of TruKKer, said. “ADCB’s strong structuring capabilities and deep understanding of our operating model made them an ideal partner in designing a bespoke facility that can scale alongside our business.”
White & Case LLP and Paul Hastings served as legal counsel on the transaction, while HSBC acted as facility security trustee and account bank across the jurisdictions involved.
TruKKer, a UAE-based digital freight network with operations across the Middle East, has closed an inaugural trade receivables securitization facility of up to US$300 million to support its regional expansion.
Abu Dhabi Commercial Bank PJSC (ADCB) served as the sole arranger and sole lender of the facility, which is backed by portfolios of trade receivables across TruKKer’s operating markets.
The company said the transaction is structured as a non-recourse securitization using a murabaha facility and spans multiple jurisdictions, including the United Arab Emirates, Saudi Arabia and Turkey.
“Transitioning from traditional equity funding to structured, non-recourse securitization requires an institutional-grade technology and financial backbone,” Gaurav Biswas, founder and CEO of TruKKer, said. “ADCB’s strong structuring capabilities and deep understanding of our operating model made them an ideal partner in designing a bespoke facility that can scale alongside our business.”
White & Case LLP and Paul Hastings served as legal counsel on the transaction, while HSBC acted as facility security trustee and account bank across the jurisdictions involved.
