This webinar unveiled TradeBacked, the latest underwriter to join the Percent platform. TradeBacked leaders dove into the details of their inaugural underwritten note with BGT, a UAE-based multi-brand luxury watch retailer.
Attendees had the opportunity to hear firsthand from TradeBacked’s leaders about their strategic partnership and vision and had their questions answered during the interactive Q&A session.
TradeBacked is a specialty finance company providing inventory financing through inventory buyback and sale leaseback contracts internationally, in regions that include Asia, Europe, the United States, and the MENA region. The Underwriter is not a lender, nor do they provide loans. Rather, together with its affiliates, TradeBacked acquires inventories and either leases this inventory back to clients for a monthly rent or sells an option to repurchase this inventory to the client. In the case of a typical sale-leaseback transaction for example, TradeBacked usually purchases luxury assets with readily discoverable price at a discount to fair market value, leases them back to the client and gives this client an option to repurchase the property back from TradeBacked on terms agreed by the parties provided the client is current on monthly lease rental payments and any other obligations owing under the applicable contract. The Underwriter has approximately 7 employees as of June 2023. At past firms, the CEO of the Underwriter gained experience providing working capital through factoring lines to companies active in the oil & gas, wholesaling, distribution, manufacturing, textiles, foods, plastics, and chemical industries.
BGT is a UAE-based multi-brand luxury watch retailer founded in 2019. BGT markets rare and collectible timepieces from brands including Patek Phillipe, Rolex, Audemars Piguet, among others. These products are marketed to wealthy individuals and watch collectors. A typical watch marketed by BGT retails for over $100,000.