International financial services provider, Bibby Financial Services (BFS), has agreed a €250 million facility with HSBC UK to grow its support for SMEs across Europe and Asia.
The nine-figure deal will extend an existing partnership with HSBC UK to provide back-to-back receivables financing. The move will enable Bibby Financial Services to maintain a total capacity of more than £1.1 billion in available funding to support small and medium enterprises in Europe and Asia achieve growth.
Alongside this, Bibby Financial Services will have access to HSBC’s Global Trade Solutions team. This team includes more than 150 working capital specialists across 50 countries and territories, supporting business across international markets.
Theo Chatha, Chief Financial Officer at Bibby Financial Services, said:
“Alongside global tensions and persistent inflation, access to flexible working capital remains a key challenge for businesses across Europe and in Asia. We are delighted to extend our partnership with HSBC, which provides us with significant capacity to ensure SMEs can access the funding they need to compete and grow.”
Bruce Richards, Head of Strategic Transactions, Global Trade Solutions at HSBC UK, added: “Bibby Financial Services play a crucial role in enabling SME growth across the world and we’re delighted to be continuing our relationship. The new pan-Eurasian facility provides back-to-back receivables financing across seven jurisdictions and will enable BFS to continue to grow its support for small and medium sized businesses. We look forward to seeing the company build on its impressive 40-year track record of backing SMEs and creating opportunities for businesses around the world.”
Bibby Financial Services (BFS) has funded SMEs for more than 40 years, and supports over 8,500 business in domestic and international markets through its invoice finance, asset finance and FX solutions. BFS has 1,000 employees spanning Europe and Asia, and is part of the Bibby Line Group, a 218-year-old family-owned business operating in multiple countries.
Image provided by Bibby Financial Services
