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Kabira I Corp

Wholesale Purchase of Perfumes

Raised $1,325,000

12% Senior Secured Notes

  • Kabira I Corp (“Kabira” or the “Borrower”), a Doral, FL-based corporation, was engaged in wholesale purchases of perfumes from primary distributors for subsequent sales to retailers and other companies involved with fragrance distribution (the “perfumes”). The perfumes were purchased and sold with the warehouse, logistical and administrative support of Miami Perfume Junction, Inc. (“MPJ” or the “Company”), a Doral, Florida-based wholesaler of fragrances founded in 1998 that had revenues of over $201 million and pre-tax income of over $16 million for the year ended 12/31/2013.

  • The loan was secured with perfumes purchased from the loan’s proceeds, as well as by receivables of Kabira from MPJ and cash balances. Principal and interest were fully guaranteed by Kabira's 100% owner. A UCC lien was filed by the Administrative Agent, CFG Financial Services, LLC.

Proceeds from this offering were used to refinance the outstanding $1,325,000 principal loan balance of Global Scent Funding, LLC, a single purpose company.

Kabira I Corp (“Kabira" or the "Borrower") issued $1,325,000 to refinance the outstanding note of Global Scent Funding, LLC, which had been used for the wholesale purchase of perfumes from retailers and other companies involved with fragrance distribution.

Securities sold by affiliate, Carolina Financial Securities, LLC.