GreensLedge Launches Lime Funding ABCP Conduit

New York, October 10, 2019

GreensLedge Holdings LLC, the owner of an independent group of affiliated companies (collectively “GreensLedge”), and Sumitomo Mitsui Trust Bank, Limited (collectively “SuMi TRUST”) have formed Lime Funding LLC, a new asset backed commercial paper (“ABCP”) conduit. Lime Funding will be a wholly-owned subsidiary of GreensLedge, which will also manage the day-to-day operational activities of Lime Funding. Lime Funding and the ABCP issued by Lime Funding will benefit from a full liquidity backstop provided by SuMi TRUST. Lime Funding is rated A-1sf from S&P Global Ratings and P-1sf from Moody’s Investors Services, Inc..

GreensLedge is a leading CLO, CDO arranger and placement agent, having completed over 98 transactions totaling more than $45 billion in issuance volume. GreensLedge also runs a number of other business lines focused on debt advisory, mergers and acquisitions, capital market activities including debt, equity and structured product distribution, fund placement, and asset management services.

SuMi TRUST is a global banking organization in Japan. SuMi TRUST has many group companies with businesses in areas such as banking, asset management and administration, and real estate. Through the mutual coordination and cooperation of these group companies, and making use of advanced expertise and comprehensive capabilities, SuMi TRUST creates distinct values for global corporate clients by leveraging a business model that combines its banking, asset management and administration, and real estate business.

Both GreensLedge and SuMi TRUST have worked together in the past and are considering other opportunities to work together to provide value-added services to clients. Lime Funding will provide an alternate funding platform to serve both SuMi TRUST’s and GreensLedge’s clients. With Lime Funding, GreensLedge and SuMi TRUST will have $3 billion of funding capacity for their clients’ needs.

Ken Wormser, a Managing Partner of GreensLedge, commented: “We have known SuMi TRUST for a long time and SuMi TRUST is a strategic partner of GreensLedge. We look forward to working with the bank on this project. Lime Funding will help support SuMi TRUST’s corporate clients as well as our initiatives to provide more products and services to our customers who seek financing in the asset backed and securitization marketplace. We believe GreensLedge and SuMi TRUST are extremely well positioned to together evaluate and source alternative funding opportunities in the service of our global customer base.”

HJS Advisors (Henry Sandlass) and Mayer Brown advised GreensLedge, and Seward & Kissel LLP advised SuMi TRUST, on the transaction.

About the Companies:

GreensLedge Holdings is the owner of an independent group of affiliated companies that provides structured and specialty finance advisory and investment banking services to institutional clients worldwide; More information about GreensLedge can be found on the Company’s website at www.greensledge.com

Sumitomo Mitsui Trust Bank is a leading trust bank group in Japan, with assets under management (AUM) of JPY 93.7 trillion (approx.US$845 billion) as of 31 March 2019. It offers a wide range of services including financing, consulting, real estate management and asset management services. It is a wholly-owned subsidiary and the major operation unit of Sumitomo Mitsui Trust Holdings, Inc., which is listed on the Tokyo Stock Exchange (stock code: 8309).

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