Press Releases

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Press Releases

Press Releases

2017

July 2017

Finacity Facilitates a MXN 1.8 Billion Receivables Securitization for CEMEX, S.A.B. de C.V. and subsidiary

Finacity Corporation (“Finacity”) announces the successful launch of a trade receivables securitization for CEMEX, S.A.B. de C.V. [BMV: CEMEX CPO] and its subsidiary CEMEX Concretos, S.A. de C.V. The facility allows for up to MXN 1.8 billion in funding. ...

June 2017

Finacity and DZ Bank Facilitate a USD 155 Million Receivables Securitization for Alliance One International

Finacity Corporation (“Finacity”) and DZ Bank AG (“DZ Bank”) announce they have successfully launched a trade receivables securitization for Alliance One International [NYSE: AOI]. The facility allows for up to USD 155 million in funding. ...

May 2017

Votorantim Cimentos N.A. Securitization, Facilitated by Finacity, wins 2017 Treasury Today “Adam Smith Award” for Best Funding Solution

Treasury Today awarded Votorantim Cimentos N.A. (“VCNA”), a fully owned subsidiary of Brazilian headquartered Votorantim Cimentos S.A. (“VCSA”), with the 2017 “Adam Smith Award” for Best Funding Solution, related to a US$152 million IFRS off-balance sheet trade receivables securitization program facilitated by Finacity. ...

April 2017

Finacity Facilitates EUR 18 million of Trade Receivable Funding for Spain’s Deoleo, S.A.

Finacity Corporation (“Finacity”) today announced that it has facilitated a EUR 18 million non-recourse trade receivable funding program for Deoleo S.A. (“Deoleo”), a Spain-based leading global producer of olive oil. The program provides financing for both domestic and export receivables from Deoleo’s Spanish operating entity, and replaces another facility that expired in December. ...

March 2017

Finacity wins a 2017 Deal of the Year Award from Trade Finance Magazine, a Euromoney Institutional Investor PLC Company

Trade Finance Magazine today awarded Finacity Corporation (“Finacity”) with a 2017 Deal of the Year Award for the Americas, related to a US$152 million IFRS off-balance sheet trade receivables securitization program that Finacity facilitated on behalf of Votoratim Cimentos N.A. (“VCNA”), a fully owned subsidiary of the Brazilian headquartered Votorantim Cimentos S.A. (“VCSA”). ...

March 2017

Finacity and ING Facilitate up to $100 Million Receivables Securitization for C&W Services, part of Cushman & Wakefield

Finacity Corporation (“Finacity”) and ING Belgium SA/NV announce that they have successfully launched a trade receivables securitization for C&W Facility Services Inc. (“C&W Services”), a business unit of Cushman & Wakefield Inc. headquartered in Chicago, IL. The facility allows for up to USD $100 million in funding and contemplates the addition of other jurisdictions. ...

March 2017

Finacity Facilitates MXN$1.43 Billion Future Flow Securitization for Mexican Firm Compañía Minera Autlán, S.A.B. de C.V.

Finacity Corporation (“Finacity”) announced that it has successfully launched a future flow receivables securitization for Compañía Minera Autlán, S.A.B. de C.V. [BMV: AUTLANB] (“AUTLAN”). The transaction is publicly listed on the Mexican Stock Exchange (“AUTLNCB 17”) and it includes an unconditional and irrevocable partial guarantee of 33% from Banco de Comercio Exterior, S.N.C. (“Bancomext”) in addition to a credit insurance policy from Atradius Seguros de Crédito, S.A. (“Atradius”). ...

March 2017

Finacity Facilitates New Trade Finance Lines for Panama-Based Luzar Trading S.A.

Finacity Corporation (“Finacity”) today announced its successful sourcing of a $5 million USD trade finance line for Luzar Trading S.A., a Panama based trading house focused especially on the trading of corn, soy, wheat and other agricultural products and their derivatives. This initial $5 million USD line supports the company’s sales into the Colombian market, and is part of a broader mandate under which Finacity has been engaged to assist Luzar in expanding its global funding relationships more generally. ...

February 2017

Finacity Facilitates KRW 280 Billion Senior Bonds and USD Equivalent of KRW 14 Billion Junior Bonds Future Passenger Ticket Receivables Securitization for Seoul Headquartered Asiana Airlines, Inc.

Finacity Corporation (“Finacity”) announced today that it has successfully facilitated a KRW 280 billion senior bonds and USD equivalent of KRW 14 billion junior bonds future passenger ticket receivables securitization for Asiana Airlines, Inc. (“Asiana”). The Senior Bonds have been assigned an ‘A-’ rating by KIS Rating and NICE Rating. Finacity will serve on an ongoing basis as the Trust Administrator for the program. ...

January 2017

Finacity Hires Darren Davies as Managing Director, Origination for Finacity Capital Management

Finacity Corporation ("Finacity") announced today that Darren Davies has joined the company as Managing Director, Origination for Finacity Capital Management (“FCM”). Davies has had significant experience in the credit markets and has held positions at Experian, DBRS, Standard & Poor’s Risk Solutions, and FitchRatings. Prior to Finacity, Darren was Vice President of Partnerships at LiftForward, a private label commercial lender where he was responsible for expanding origination channels through institutional partnerships. ...

2016

November 2016

$350 Million Container Shipping Receivables Securitization for Singapore Based Neptune Orient Lines, a CMA CGM Group company

Finacity Corporation (“Finacity”) and ING Belgium SA/NV announce that they have successfully launched a container shipping receivables securitization for Neptune Orient Lines (“NOL”), a Company Headquartered in Singapore and recently acquired by CMA CGM, allowing up to USD 350 million in funding. ...

October 2016

Finacity Facilitates MXN$525 Million IFRS Off-Balance Sheet Securitization for Valores Químicos, a subsidiary of CYDSA – Mexico

Finacity Corporation announced that it has successfully launched an IFRS off-balance sheet trade receivables securitization for Valores Químicos, S.A. de C.V., a subsidiary of CYDSA, S.A.B. de C.V. [BMV: CYDSASA] The transaction allows for up to MXN$525 million in funding of a senior tranche from two Mexican banks and an investment from Finacity Capital Management (“FCM”) in an intermediate subordinated note. ...

September 2016

Finacity Facilitates $25 Million of Trade Receivable Funding for CME Wire & Cable Inc, a subsidiary of Xignux

Finacity Corporation (“Finacity”) announced that it has facilitated a $25 million US trade receivable funding program for CME Wire & Cable, Inc. (“CME”), a Georgia based multinational supplier of electrical wire, magnet wire and cable. CME is a subsidiary of Mexican industrial group Xignux, S.A. de C.V. (“Xignux”). ...

June 2016

Finacity Facilitates $152 Million IFRS Off-Balance Sheet Securitization for VCNA, Part of Brazilian Headquartered Votorantim Group

Finacity Corporation (“Finacity”) announced that it has successfully launched an IFRS off-balance sheet trade receivables securitization for Votorantim Cimentos North America Inc. (“VCNA”). The transaction allows for up to $150 million in funding of the senior tranche from Wells Fargo Capital Finance, part of Wells Fargo & Company [NYSE: WFC], as well as an initial $2 million investment from Finacity Capital Management (“FCM”) in the intermediate subordinated note. ...

May 2016

Finacity Facilitates USD 12 million Trade Receivables Securitization for Spain-Headquartered Ercros, SA

Finacity Corporation (“Finacity”) announced today that it has successfully launched a trade receivables securitization for Ercros S.A. (“Ercros”) [ECR.MC], a Spain-based producer of chemicals. The USD 12 million facility, funded by Finacity Capital Management (“FCM”), serves as a funding source for Ercros’ USD-denominated export receivables, thus complementing an existing EUR-denominated factoring program. Finacity served as the sole structurer and investor in the transaction and is responsible for ongoing program administration and reporting. ...

May 2016

Finacity facilitates renewal and amendment of the $700 million Global Trade Receivables Securitization Program on behalf of Bunge

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful renewal and amendment of a global trade receivables securitization program for Bunge Limited (NYSE:BG). The securitization program will continue to provide Bunge with cash proceeds of up to $700 million through the on-going sale of certain trade receivables. ...

January 2016

Finacity Arranges EUR 100 Million Receivables Securitization Facility for Germany Headquartered Papier Union and PMF Factoring

Finacity Corporation (“Finacity”) announced that it has successfully launched a combined receivables securitization program for Papier Union GmbH (“PapierUnion”) and PMF Factoring GmbH (“PMF Factoring”), allowing up to EUR 100 million in funding through a leading European bank. ...

2015

December 2015

Finacity Facilitates EUR 5 million of Trade Receivable Funding for HYVA

Finacity Corporation (“Finacity”) announced today that it has facilitated a EUR 5 million European trade receivable funding program for Hyva Holding B.V. (“Hyva”), a Netherlands based multinational manufacturer of components for the commercial vehicle industry. The receivable funding program provides financing for Hyva’s subsidiaries in the Netherlands and Belgium. ...

December 2015

Finacity Serves as Advisor on New General Financial Consumer Loan Origination Program and Facilitates $15 million of New Financing

Finacity Corporation (“Finacity”) is pleased to announce that it has served as advisor to a loan origination program recently closed between General Financial, Inc. (“General Financial”) of Atlanta, Georgia and a federally chartered regional bank. The program facilitates the future origination of internet marketed loans by the bank employing General Financial’s marketing technology. ...

November 2015

Finacity Facilitates Expansion of Trade Receivable Funding Program to Include URSA’s Subsidiaries in the United Kingdom and Italy

Finacity Corporation (“Finacity”) announced today that it has facilitated the addition of two new tranches to an existing multicountry European trade receivable funding program that had been arranged previously for URSA Insulation, S.A. (“URSA”). The original program had funded receivables originated by URSA’s subsidiaries in France, Spain and Belgium. ...

November 2015

Finacity Arranges $100 million Trade Receivables Securitization Facility for ZIM Integrated Shipping Services

Finacity Corporation (“Finacity”) announced that it has successfully launched a multi-jurisdiction trade receivables securitization for ZIM Integrated Shipping Services Limited (“ZIM”), allowing up to $100 million in funding from a leading European bank. ...

October 2015

Initially Capitalized with $50 million, Finacity Launches New Business to Fund Smaller Securitizations

Finacity Corporation (“Finacity”) is pleased to announce the formation of Finacity Capital Management (FCM), a new business designed to facilitate efficient processing of trade receivables as well as access to the securitization markets for companies with smaller portfolios of receivables. ...

September 2015

Finacity Facilitates MXN$300 Million Inaugural Consumer Loan Securitization Program for DIMEX

Finacity Corporation (“Finacity”) is pleased to announce that it has successfully facilitated and will serve as ongoing Master Servicer for the MXN$300 Million inaugural consumer loan securitization program of Dimex Capital, S.A. de C.V., SOFOM, E.N.R. The securitization was placed in the Mexican capital markets with a five year tenor and is the first issue out of a MXN$2 billion program that will be secured by a portfolio of consumer loans that are payroll deducted. ...

September 2015

Jeff Gulbin, Finacity’s CFO, named 2015 CFO of the Year

Finacity Corporation (“Finacity”) is pleased to announce that Jeff Gulbin, the company’s Chief Financial Officer, has been named 2015 CFO of the Year (mid-size business category) by the Fairfield County Business Journal. The awards were determined by a distinguished panel of business and academic leaders from the State of Connecticut. ...

September 2015

Finacity and Wells Fargo Add Asian Originator to Trade Receivables Securitization Facility for The Manitowoc Company

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful addition of an Asian Originator to an existing trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW). The $185 million transaction now incorporates a new division (Manitowoc Foodservice Asia Pacific Private Limited). ...

May 2015

Finacity Receives Presidental Award for Export Service At a Ceremony in Washington, DC

U.S. Secretary of Commerce Penny Pritzker today presented Finacity Corporation (“Finacity”) with the President’s “E” Award for Export Service at a ceremony in Washington, DC. The President's “E” Award is the highest recognition any U.S. entity may receive for making a significant contribution to the expansion of U.S. exports. ...

May 2015

Finacity Serves as Advisor and Reporting Administrator for $50 Million Government Receivables Funding Program

Finacity Corporation (“Finacity”) is pleased to announce that it has served as advisor and will serve as ongoing Reporting Administrator, for a new $50 Million government obligations only receivable funding program. The program provides for investor participation in state government receivables. ...

January 2015

Finacity Facilitates EUR 11.5 million of Trade Receivable Funding for Barcelona-Headquartered ERCROS, SA

Finacity Corporation (“Finacity”) announced today that it has facilitated a new EUR 11.5 million participation in a larger EUR 102 million syndicated factoring program for Ercros S.A. (“Ercros"), a Spain-based producer of chemicals. Part of the participation amount replaces the commitment of an existing factor from a predecessor facility, while the remainder represents incremental new liquidity for the company. ...

2014

December 2014

Finacity and Wells Fargo Increase Trade Receivables Securitization Facility for The Manitowoc Company to $185 Million

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful increase of an existing trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW). The $185 million transaction now incorporates two new divisions (Manitowoc Foodservice UK Limited and Manitowoc Deutschland GMBH). Wells Fargo Bank, NA (NYSE: WFC) provided funding for the transaction, while Finacity provided structuring support and is responsible for ongoing program administration and reporting. ...

November 2014

NORD/LB and Finacity Arrange $880 Million Trade Receivables Securitization Facility for France Headquartered CMA CGM

Finacity Corporation (“FINACITY”) and Norddeutsche Landesbank Girozentrale (“NORD/LB”) announced that they have successfully launched a multi-jurisdiction trade receivables securitization for CMA CGM SA (“CMA CGM”), allowing up to US $880 million in funding through a 5-bank syndicated facility. ...

November 2014

Finacity Facilitates $350 Million Receivable Securitization for Seoul Headquartered Korean Air Lines Company, Ltd.

Finacity Corporation (“Finacity”) announced today that it has successfully facilitated a $350 million receivables securitization for Korean Air Lines Company, Ltd. (“KAL”). The securitization has been assigned an ‘Aa3’ rating by Moody’s Investors Service Hong Kong Limited. ...

October 2014

Finacity Appoints Judith S. Schrecker as a Board Director of the Company

Finacity Corporation (“Finacity”) announced today that it has appointed Judith S. Schrecker as a board director of the company. Schrecker recently retired as Chief Financial Officer of Alcoa’s Global Rolled Products business. Alcoa (NYSE: AA) is a Fortune 200 global leader in lightweight metals technology, engineering and manufacturing. Under Schrecker’s financial leadership, the Global Rolled Products business achieved historically high profitability. Schrecker brings more than 34 years of global financial leadership with broad international experience. ...

September 2014

Finacity Announces Expanded Global Client Coverage

Finacity Corporation (“Finacity”), a leading provider of structured finance services, announced today that it has expanded its global client coverage with the engagement of Mr. David Viney. Viney, a former Managing Director at RBS, Barclays, Bank of America and Mizuho, has extensive experience in the securitization of both consumer and trade receivable assets and has held senior management positions in Europe, the United States and the Middle East. His engagement will augment Finacity’s global capabilities in trade receivables financing and its continued expansion into the securitization and funding of consumer receivables. ...

September 2014

Finacity Facilitates $80 Million Three-Year Committed Supplier Financing

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing and funding of an $80 million supplier finance program on behalf of a US company. This revolving structure has a three-year commitment and is financed by a non-bank funding source ...

August 2014

Finacity Announces Annual Back-Up Servicing Volumes Exceed $40 Billion

Finacity Corporation (“Finacity”) announced today that it has been responding to the growing demand for back-up servicing in the trade accounts receivable finance arena. ...

August 2014

$55 Million Off-Balance Sheet (IFRS De-Recognition) Receivables Securitization Program for Greek Multinational Client

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing and funding of an innovative trade receivables securitization program for a Greece-headquartered multinational corporation. The securitization program will initially provide Finacity’s client with cash proceeds of up to $55 million through the on-going purchase of trade accounts receivable. ...

July 2014

Finacity Corporation Announces Expanded Coverage of Brazil

Finacity Corporation (“Finacity”) announced today that it has expanded its focus in Latin America, with particular emphasis on Brazil, with the engagement of Mr. Jayme Bulcão. Finacity believes that this will facilitate the company to better serve its global constituents. In general, this reflects the rapid growth of Finacity’s activities on behalf of customers. Finacity has been successful in obtaining innovative receivables-based financing for international clients with complex and diverse attributes. ...

July 2014

Finacity wins a 2014 Trade and Forfaiting Review Excellence Award

Finacity Corporation (“Finacity”) announced today that it has won a 2014 Trade and Forfaiting Review Excellence Award. Awards for Excellence are voted on by readers’ poll. ...

July 2014

€26 million Trade Receivable Funding for URALITA

Finacity Corporation (“Finacity”) announces today that it has facilitated a series of European trade receivable funding programs for Uralita S.A. (“Uralita”) (BME: URA), a Spain based multinational producer of building materials. The receivable funding programs provide financing for Uralita’s subsidiaries in France, Spain, and Belgium using multiple funding institutions. ...

June 2014

Finacity wins a “Trade Finance Award for Excellence 2014” from Trade Finance Magazine, Euromoney Institutional Investor

Finacity Corporation (“Finacity”) announced today that it has won a “Trade Finance Award for Excellence 2014” from Trade Finance Magazine, Euromoney Institutional Investor. Awards for Excellence are voted on by the trade finance industry. ...

June 2014

Finacity Serves as Advisor on New CreditCircle Consumer Loan Origination Program

Finacity Corporation (“Finacity”) is pleased to announce that it has served as advisor to a loan origination program recently closed between CreditCircle, Inc. (“CreditCircle”) of Salt Lake City, Utah and a regional bank. The program facilitates the future origination of internet marketed loans by the bank using CreditCircle technology. ...

May 2014

Finacity Closes Two New Asset-Based Loan Transactions

Finacity Corporation (“Finacity”) is pleased to announce that it has recently facilitated new asset-based loan (“ABL”) facilities for the US affiliates of two of its international corporate clients. The first transaction is a $17 million, 3-year borrowing base credit facility arranged for a US manufacturer that is part of a larger Asia-based corporate group. ...

May 2014

Finacity Announces the Launch of a US$ 15 Million Invoice Purchase Facility for a U.S. Nationwide Food Distributor

Finacity Corporation announced today that it had successfully arranged and structured a US$ 15 Million Invoice Purchase Facility for a leading US Nationwide Food Distributor. The Facility will be used by the client strategically to finance invoices related to important customer relationships on a non-recourse basis. ...

May 2014

Finacity Facilitates $100 million Trade Receivables Securitization on Behalf of Navistar International Corporation

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing of a trade receivables securitization program for Navistar International Corporation (“Navistar") [NYSE: NAV]. The securitization program will provide Navistar with cash proceeds of up to $100 million through the on-going purchase of receivables. ...

March 2014

Finacity Facilitates €280 million Global Trade Receivables Securitization on Behalf of Archer Daniels Midland Company

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing of a global trade receivables securitization program for Archer Daniels Midland Company (“ADM”) [NYSE: ADM]. The securitization program will provide ADM with cash proceeds of up to €280 million through the on-going purchase of receivables. ...

2013

November 2013

Finacity Facilitates $1.185 Billion of Global Funding via Four Receivable Securitizations

Finacity Corporation (“Finacity”) has continued to actively support its clients with efficient receivable securitizations. New successful executions this past month include:$600 million multi-jurisdiction financing for a transportation company ...

November 2013

Finacity Announces the Launch of a $350 Million Global Freight Receivables Securitization Facility for Germany Headquartered Hapag-Lloyd Group

Finacity Corporation (“Finacity”) announces today that it has facilitated the successful launch of a new $350 million freight receivables securitization for Hapag-Lloyd Group (“Hapag-Lloyd”), a leading global liner shipping company, to replace their existing North American facility. ...

November 2013

Finacity Corporation Announces Successful MXN 1.2 Billion Trade Receivables Securitization for Vitro S.A.B. de C.V. in Mexico

Finacity Corporation (“Finacity”) announced today the successful merging of two existing trade receivables securitizations for Vitro S.A.B. de C.V. (“Vitro”) (BMV:VITROA). The two programs, each now in its eighth year and collateralized with receivables from subsidiaries of Vitro Envases Norteamerica S.A. de C.V. and Vidrio Plano de México S.A de C.V., were combined into one investment grade bond offering rated ‘AAA’ on a local scale by two rating agencies. ...

April 2013

Finacity Expands Consumer Finance Platform

Finacity Corporation (“Finacity”) a leading provider of structured finance services, announced today that consumer asset backed securities expert Paul Jenison has joined the firm. Jenison, a former Managing Director at PaineWebber and at Prudential Securities, will be heading Finacity’s expanded efforts to facilitate the securitization and financing of consumer receivables. ...

February 2013

Finacity wins Trade & Forfaiting Review “2012 DEAL OF THE YEAR”

Investing in Colombia has been getting more attractive - the country is the leader in Latin America, the fifth in the world in terms of investor protection (see TFR's 'Comeback Colombia at www.tfreview.com/node/8388, 14 November 2012). ...

2012

October 2012

Finacity Facilitates the Syndication of a $250 million Receivables Purchase Facility for Trafigura AG

Finacity Corporation (“Finacity”) announced today its successful facilitation of a syndication of a $250 million Revolving Receivables Purchase Facility supporting the ongoing sale by Trafigura AG of certain trade receivables. Through Finacity’s efforts, the funding group was expanded to a total of six financial institution participants. ...

October 2012

Facilitated by Finacity, Coltejer Carries Out the First Trade Receivable Securitization in Colombia

Finacity Corporation estructuró la primera titularización de cuentas por cobrar comerciales del mercado colombiano. La colocación por oferta pública, por 22,000 millones de pesos colombianos correspondiente a un primer lote, excedió el tamaño mínimo acordado de 20,000 millones y fue la primera de una emisión por un total de 35,000 millones de pesos colombianos, que logró obtener la más alta calificación de BRC Investor Services S.A. – Sociedad Calificadora de Valores; “AAA” a escala nacional (nemotécnico “FIDCOLTEJE” en la Bolsa de Valores de Colombia). El programa rotativo, que tiene una duración de cinco años, cuenta con mitigantes de riesgo que incluyen (a) una sobrecolateralización con respecto al tamaño de la emisión, ya que la emisión está respaldada por la cartera de facturas comerciales de Coltejer S. A., (b) un Fideicomiso manejado por Alianza Fiduciaria y (c) un monitoreo diario de las facturas comerciales titularizadas por parte de Finacity en su ...

October 2012

Finacity Facilitates a $150 million Receivable Securitization for The Manitowoc Company

Finacity Corporation (“Finacity”) announced today that it has facilitated a $150 million securitization for The Manitowoc Company, Inc. (NYSE: MTW). Wells Fargo Bank, NA (NYSE: WFC) provided funding for the transaction. Finacity provided structuring support and is responsible for ongoing program administration and reporting. ...

September 2012

Finacity and ING launch a €100 million Pan-European Trade Receivables Securitization for Portugal Headquartered Sonae Indústria

Finacity Corporation (“Finacity”) and ING Belgium SA/NV announce today that they have facilitated the successful closing of a trade receivables securitization for Sonae Indústria SGPS, SA (“Sonae Indústria”). The securitization program will provide Sonae Indústria with cash proceeds of up to €100 million through the on-going purchase of receivables from its European operations. ...

May 2012

$150 million Trade Receivable Securitization for Germany Headquartered Hapag-Lloyd

Finacity Corporation (“Finacity”) announces today that it has facilitated the successful increase to $150 million of an existing trade receivables securitization for Hapag-Lloyd Group (“Hapag-Lloyd”). ...

April 2012

$250 Million Trade Receivable Securitization Facility for Alliance One International

Finacity Corporation (“Finacity”) announced today that together with Norddeutsche Landesbank Girozentrale (“NORD/LB”) and Standard Chartered Bank, it has facilitated the successful increase to twice the original size of an existing trade receivables securitization for Alliance One International, Inc. (NYSE: AOI). The new $250 mln program has a five year extended tenor. ...

April 2012

Finacity wins Trade Finance Magazine “2011 DEAL OF THE YEAR”

Despite their obvious appeal, securitised structures are still relatively rare for large traders. Bunge’s $700 million unified, global trade receivables securitisation programme, which closed and funded on 1 June 2011, is a landmark transaction that has been closely watched by rival traders. ...

2011

November 2011

Trade Receivables Funding Program for Portugal Headquartered Altri SPGS S.A.

Finacity Corporation (“Finacity”) announced it has successfully arranged and structured a trade receivables funding program for Altri SPGS S.A. (“Altri”). The syndicated funding facility, launched this week, optimizes financing against Altri’s domestic and international trade receivables. ...

October 2011

Finacity Adds German and Canadian Receivables to Existing Manitowoc Securitization

Finacity Corporation (“Finacity”) announced today that, together with Norddeutsche Landesbank Girozentrale (“NORD/LB”), it has facilitated the successful addition of German and Canadian receivables to an existing securitization for The Manitowoc Company, Inc. (NYSE: MTW). NORD/LB’s commercial paper conduit, Hannover Funding Company LLC, provides funding for the transaction. ...

October 2011

€500 Million Global Receivables Securitization for Styrolution

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful funding of a global trade receivables securitization program for Styrolution Group GmbH (“Styrolution”). The securitization program will provide Styrolution with cash proceeds of up to €500 million through the on-going purchase of receivables from its multicountry operations network. Receivables are originated in 4 countries with obligors in 136 countries. ...

August 2011

MXN 2.5 Billion Receivable Securitization for Cemex

Finacity Corporation (“Finacity”) announced today that as Arranger it has successfully facilitated the execution of a 4.26year “mxAAA (Standard & Poor's) / HR AAA (HR Ratings)” rated (S&P and HR respectively), CNBV6registered MXN 2,500,000,000 trade receivables securitization facility for a trust that will make ongoing acquisitions of CEMEX Mexico, CEMEX Concretos, CEMEX Vivienda, and CEMEX Agregados receivables on a non recourse basis. CEMEX Mexico, CEMEX Concretos, CEMEX Vivienda, and CEMEX Agregados are subsidiaries of CEMEX, S.A.B. de C.V. [MXK:CEMEXCPO / NYSE:CX] (“CEMEX”). ...

August 2011

$75 Million for CHC Helicopter’s Receivable Securitization Facility

Finacity Corporation (“Finacity”) announced today that together with Norddeutsche Landesbank Girozentrale (“NORD/LB”), it has facilitated the successful increase from $55 million to $75 million of an existing trade receivables securitization for CHC Helicopter Corporation. The program upsize involves the addition of Australian receivables combined with European receivables. ...

July 2011

Finacity Increases to $125 Million Trade Receivable Securitization for Alliance One International

Finacity Corporation (“Finacity”) announced today that together with Norddeutsche Landesbank Girozentrale (“NORD/LB”), it has facilitated the successful increase from $100 million to $125 million of an existing trade receivables securitization for Alliance One International, Inc. (NYSE: AOI). ...

June 2011

$700 Million Securitization for Bunge

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing of a global trade receivables securitization program for Bunge Limited (“Bunge”) [NYSE: BG]. The securitization program will provide Bunge with cash proceeds of up to $700 million through the on-going purchase of receivables. ...

May 2011

$100 Million Receivable Securitization for Germany Headquartered Hapag-Lloyd

Finacity Corporation (“Finacity”) and Norddeutsche Landesbank Girozentrale (“NORD/LB”) announce today that they have facilitated the successful closing of a trade receivables securitization for Hapag-Lloyd Group (“Hapag-Lloyd”). The funding agreement will initially provide Hapag-Lloyd cash proceeds of up to $100 million through the on-going purchase of receivables. ...

January 2011

€20 Million Trade Receivables Facility for INAPA

Finacity Corporation (“Finacity”) and Fortis Commercial Finance (‘FCF’) announced that they successfully closed a trade receivables funding program for INAPA Spain. The funding facility provides INAPA Spain with up to €20 Million in receivables financing. ...

2010

November 2010

€1.2 Billion Funding Program for Ineos

Finacity Corporation (“Finacity”) announced today that, together with a consortium of banks, it is facilitating daily reporting for a global trade receivables securitization for Ineos Group Limited (“Ineos”). Finacity provides ongoing ledger monitoring, daily integration and reporting on behalf of 11 selling entities for receivables denominated in 4 currencies. ...

October 2010

$25 Million Trade Receivable Funding Program for INEOS NOVA

Finacity Corporation (“Finacity”) announced today that it facilitated a cross-border trade receivable funding program for INEOS NOVA, LLC (“INEOS NOVA”). ...

April 2010

Successful Renewal of Trade Receivables Securitization for Vitro S.A.B. de C.V. in Mexico

Finacity Corporation announced today the successful extension of a MXN 550,000,000 variable rate investment grade bond for one of its clients, Vitro Envases Norteamerica S.A. de C.V. (“VENA”), a 100% owned subsidiary of Vitro S.A.B. de C.V. (“Vitro”) (BMV: VITRO A). The securitization program, now in its fifth year, was renewed on March 25, 2010 for an additional two years. ...

February 2010

Finacity and NORD/LB Announce an Increase to $55 Million for CHC Helicopter’s Trade Receivable Securitization Facility

Finacity Corporation (“Finacity”) announced today that, together with Norddeutsche Landesbank Girozentrale (“NORD/LB”), it has facilitated a successful size increase to $55 million of a European trade receivables securitization for CHC Helicopter. ...

February 2010

Finacity Wins Association of Trade & Forfaiting In The Americas “2009 DEAL OF THE YEAR”

The Association of Trade & Forfaiting in the Americas (“ATFA”) honored a Finacity Corporation (“Finacity”) transaction on behalf of a Mexican company as its “2009 Deal of the Year.” New York-based ATFA is an association of banks, insurance companies, hedge funds and exporters actively involved in various forms of Trade Finance throughout the Americas. It is dedicated to fostering ‘networking opportunities’ and educating. ...

2009

December 2009

MXN 300 Million Receivables Program for Viméxico

Finacity Corporation (“Finacity”) announced today that it facilitated the successful refinancing of a trade receivables program for Viméxico, S.A. de C.V. (“Viméxico”), a majority owned subsidiary of Vitro S.A.B. de C.V. (“Vitro”) (BMV: VITRO A). ...

November 2009

MXN 300 Million Trade Receivable Securitization for Taenza, S.A. (Grupo Zapata)

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing of a Mexican trade receivable securitization for Taenza, S.A. (“Grupo Zapata”). The issuance provides Grupo Zapata cash proceeds of MXN 300 million over a two-year period through the ongoing purchase of peso and dollar-denominated receivables from five selling entities. The transaction is registered with the CNBV and is rated mxAAA/hrAAA by Standard & Poor’s and HR Ratings respectively. Finacity served as Arranger, providing analytic and structuring support and serves as ongoing Bond Administrator and Master Servicer. Barclays Capital Casa de Bolsa, S.A. de C.V. and IXE Casa de Bolsa, S.A. de C.V. placed the securitization issuance with investors. ...

October 2009

Finacity and NORD/LB Announce A $40 Million Trade Receivable Securitization Facility for CHC Helicopter

Finacity Corporation (“Finacity”) announced today that, together with Norddeutsche Landesbank Girozentrale (“NORD/LB”), it has facilitated the successful closing of a European trade receivables securitization for CHC Helicopter. The funding agreement will initially provide CHC Helicopter cash proceeds of up to $40 million through the ongoing purchase of receivables from various European subsidiaries and affiliates. NORD/LB’s commercial paper conduit, Hannover Funding Company LLC, will fund the transaction. NORD/LB’s Asset Backed Finance Group structured the transaction for Hannover Funding. Finacity served as Arranger, providing analytic and structuring support and serves as ongoing Administrator. ...

September 2009

Finacity and NORD/LB Announce a €50 Million Trade Receivable Securitization Facility for JohnsonDiversey

Finacity Corporation (“Finacity”) announced today that, together with Norddeutsche Landesbank Girozentrale (“NORD/LB”), it has facilitated the successful closing of a European trade receivables securitization for JohnsonDiversey, Inc. (“JohnsonDiversey”). The funding agreement will provide JohnsonDiversey cash proceeds of up to €50 million through the ongoing purchase of receivables from French, Spanish and United Kingdom subsidiaries. NORD/LB’s commercial paper conduit, Hannover Funding Company LLC, will fund the transaction. NORD/LB’s Asset Backed Finance Group structured the transaction for Hannover Funding, and Finacity provided analytical and structuring support and serves as ongoing Administrator. ...

September 2009

Finacity and NORD/LB Announce an Increase to $125 Million of a Trade Receivable Securitization Facility for The Manitowoc Company

Finacity Corporation (“Finacity”) announced today that, together with Norddeutsche Landesbank Girozentrale (“NORD/LB”), it has facilitated the successful increase to $125 million of a trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW). NORD/LB’s commercial paper conduit, Hannover Funding Company LLC, will fund the transaction. ...

July 2009

MXN 2.2 Billion Receivable Securitization for Cemex

Finacity Corporation (“Finacity”) announced today that as Arranger it has successfully facilitated the execution of a “AAA.mx”-rated, CNBV-registered MXN 2,200,000,000 trade receivables securitization facility for a trust that has acquired CEMEX Mexico and CEMEX Concretos receivables on a non recourse basis. CEMEX Mexico and CEMEX Concretos are subsidiaries of CEMEX, S.A.B. de C.V. [MXK:CEMEXCPO / NYSE:CX] (“CEMEX”). Finacity will serve as the Bond Administrator in this transaction and will provide daily and monthly reports to various constituents and investors offering visibility into the transaction’s assets, collateral values, and receivables performance. Ixe Casa de Bolsa, S.A. de C.V., Ixe Grupo Financiero (“Ixe”) acted as the sole underwriter in this transaction. ...

April 2009

Successfully Structures Trade Receivables Securitization for Vitro S.A.B. de C.V. in Mexico

Finacity Corporation announced today that on March 31, 2009 it facilitated the funding of a two-tranche trade receivables securitization for two subsidiaries of Finacity’s client Vitro Envases Norteamerica S.A. de C.V. (“VENA”), a 100% owned subsidiary of Vitro S.A.B. de C.V. (“Vitro”) (NYSE: VTO and BMV: VITRO A). Acting as the Structurer, Master Servicer, Servicer and Bond Administrator, Finacity successfully facilitated a transaction that provides VENA with enhanced liquidity from receivables assigned from VENA subsidiaries Compania Vidriera, S.A. de C.V., which conducts a substantial majority of VENA's glass container operations in Mexico, and Industria del Álcali, S.A. de C.V., which is engaged in the manufacture and distribution of soda ash, sodium bicarbonate, calcium chloride and salt. ...

2008

July 2008

Seven-Year, Fixed-Rate Receivables Securitization Facility for Papel, Cartón y Derivados S.A. de C.V.

Finacity Corporation (“Finacity”) announced today that it facilitated the closing and funding of an enhanced trade receivables securitization for Papel, Cartón y Derivados S.A. de C.V. (“PCD”). Acting as the Arranger, Master Servicer and Bond Administrator, Finacity successfully structured a seven-year transaction that provides fixed-rate funding for receivables assigned from PCD. This facility replaces a previous trade receivables securitization and provides for a comparatively higher advance rate, a larger eligible pool, a lower cost of funds and a longer maturity. ...

April 2008

Increases to $100 Million a Receivable Securitization for Alliance One International

Finacity Corporation (“Finacity”) announced today that together with Norddeutsche Landesbank Girozentrale (“NORD/LB”) it has facilitated an amendment to a trade receivable securitization facility for Alliance One International, Inc. (NYSE: AOI). The amendment increases the facility to $100 million, improves pricing and extends the maturity 3.5 years to March 2013. A Finacity owned Special Purpose Entity (“SPE”) purchases receivables from the sale of agricultural commodities to both non-OECD and OECD domiciled customers in approximately 80 countries. The Finacity SPE is expected to provide AOI with risk-mitigated monetization through the ongoing securitization of trade receivables generated by Swiss-based AOI AG, a wholly owned subsidiary of AOI. ...

April 2008

$150 Million Receivables Securitization for Fortune 100 Client

Finacity Corporation (“Finacity”) announced that it successfully extended a $150 million trade receivables securitization transaction for one of its clients, a Fortune 100 company. The funding program, now in its sixth year, includes receivables from obligors in Asia, North America and Latin America. The program is funded by a facility setup with an asset-backed commercial paper conduit sponsored by a leading European bank. Euler Hermes ACI, the leading trade credit insurer in North America, continues to insure the credit and political risk associated with the underlying obligor receivables purchased. ...

2007

December 2007

$150 Million Trade Receivable Securitization Facility for Northwest Airlines.

Finacity Corporation announced today that it has facilitated the successful refinancing of a trade receivables securitization for Northwest Airlines, Inc. (NYSE: NWA) at attractive pricing levels of CP+100 bps per annum. Finacity served as arranger and will provide ongoing administrative and reporting services for the transaction. NWA and Finacity successfully structured a five-year transaction that provides NWA with funding for certain operating receivables. The agreement will provide NWA cash proceeds of up to $150 million through the ongoing purchase of the receivables. ...

September 2007

Increase to $105 Million of a Trade Receivable Securitization Facility for The Manitowoc Company.

Finacity Corporation (“Finacity”) announced today that it has facilitated the successful increase to $105 million of a trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW). About The Manitowoc Company, Inc. The Manitowoc Company, Inc. is one of the world’s largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. As a leading manufacturer of ice-cube machines, ice/beverage dispensers, and commercial refrigeration equipment, the company offers the broadest line of coldfocused equipment in the foodservice industry. In addition, the company is a leading provider of shipbuilding, ship repair, and conversion services for government, military, and commercial customers throughout the U.S. maritime industry. More information can be found at www.manitowoc.com. ...

August 2007

Trade Receivables Securitization Facility for Papel, Cartón y Derivados S.A. de C.V.

Finacity Corporation (“Finacity”) announced today that in its capacity as Arranger, it facilitated the successful closing and funding of an innovative trade receivables securitization for Papel, Cartón y Derivados S.A. de C.V. (“PCD”). Acting as the Arranger, Master Servicer and Bond Administrator, Finacity successfully structured a five-year transaction that provides PCD with funding for receivables assigned from PCD. ...

May 2007

Increases Trade Receivables Securitization Program for Fortune 100 Client

Finacity Corporation announced that it successfully upsized a significant trade receivables securitization transaction for one of its clients, a Fortune 100 company. The funding program, now in its fifth year, has been increased to $150 million in funding availability. The upsized transaction includes receivables from obligors in Asia, North America and Latin America. The program is funded by a facility setup with an asset-backed commercial paper conduit sponsored by a leading European bank. Euler Hermes ACI, the leading trade credit insurer in North America, continues to insure the credit and political risk associated with the underlying obligor receivables purchased. ...

March 2007

Finacity wins Trade Finance Magazine’s “2006 DEAL OF THE YEAR”

Innovation in trade finance does not always come from the largest banks. In this case an innovative non-OECD trade receivables securitization for Alliance One International (AOI) had the larger trade banks sitting up and taking notice. ...

2006

December 2006

Fortune 100 client with launch of $300 Million Receivable Funding Program

Finacity Corporation announced that it has arranged an additional transaction for an existing Fortune 100 client through the launch of a new receivable funding program of up to $300 million. ...

December 2006

$90 Million Trade Receivable Securitization Facility for The Manitowoc Company

Finacity Corporation (“Finacity”) announced today that together with Norddeutsche Landesbank Girozentrale (“NORD/LB”) it has facilitated the successful closing of a significant trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW). The five-year agreement will provide Manitowoc cash proceeds of up to $90 million through the ongoing purchase of receivables from certain domestic and Canadian accounts assigned from its domestic Crane and Foodservice operating subsidiaries. This new funding facility replaces a $60 million facility launched in 2005. NORD/LB’s commercial paper conduit, Hannover Funding Company LLC, will fund the transaction ...

October 2006

Receivables Securitization Transaction for Alliance One International, Inc.

Finacity Corporation (“Finacity”) announced today the successful closing of a securitization transaction effective September 27, 2006, with Alliance One International, Inc. (NYSE: AOI) as the originator and servicer, and Finacity as the structuring agent, SPE-sponsor and ongoing information reporting agent. The three-year facility covers selected receivables from the sale of agricultural commodities to some two dozen non-OECD domiciled customers. The facility is expected to provide AOI with risk-mitigated monetization of up to US$55 million from time to time through the ongoing securitization of trade receivables generated by Swiss-based AOI AG. ...

October 2006

Extends Global Trade Receivables Securitization Program for Fortune 100 Client

Finacity Corporation announced that it successfully extended a significant trade receivables securitization transaction for one of its clients, a Fortune 100 company. This complex funding facility supports receivables associated with obligors in Asia, Europe, South America and North America. ...

August 2006

$250 Million receivable securitization for ABB, Inc.

Finacity Corporation (“Finacity”) announced the successful closing of a securitization transaction with ABB, Inc. (“ABB”) as the originator, and Finacity as the Information Reporting Agent and Note Issuer. The three-year agreement is expected to provide ABB cash proceeds of up to US$250 million through the ongoing purchase by one of Finacity’s entities, without recourse, of trade receivables generated by ABB’s 19 US operating entities. ...

March 2006

Expanded Presence in Europe

Finacity Corporation (“Finacity”) announced today that it has expanded its presence in Europe with the engagement of Mr. Charles Nahum and Mr. Jean-Marc Fossorier, based in London and Paris respectively. Finacity believes that this will facilitate the company to better serve its global constituents with a local European presence. In general, this reflects the rapid growth of Finacity’s activities on behalf of customers. Finacity has been successful in obtaining innovative financing for international clients with complex and diverse attributes. ...

January 2006

Increases and Extends Trade Receivables Securitization Program for Fortune 100 Client

Finacity Corporation announced that it successfully upsized and extended a significant trade receivables securitization transaction for one of its clients, a Fortune 100 company, on January 6, 2006. The funding program was rolled over for a fourth year and increased to approximately $90 million in funding availability. The initial facility, first funded in 2002, started at $40 million and included domestically originated receivables from obligors in Latin America and the Middle East, sold from one division. In addition to the original obligors, the upsized transaction now includes receivables from obligors in Asia, the US, Canada and Eastern Europe which purchase from three subsidiaries of Finacity’s client. The program is funded by a facility setup with an asset-backed commercial paper conduit from one of the world’s largest banks. ...

2005

December 2005

Trade Receivables Securitization Facility for The Manitowoc Company

Finacity Corporation announced today that it has facilitated the successful closing of a significant trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW). The securitization was arranged by Finacity Corporation and Harris Nesbitt. Manitowoc and Finacity successfully structured a three-year transaction that provides Manitowoc with funding for receivables assigned from its operating subsidiaries. The three-year agreement will provide Manitowoc cash proceeds of up to $60 million through the ongoing purchase of the receivables from certain domestic and Canadian accounts. Harris Nesbitt’s commercial paper conduit, Fairway Finance Co., will fund the transaction. ...

December 2005

Trade Receivables Securitization Facility for Copamex S.A. de C.V.

Finacity Corporation (“Finacity”) announced today that in its capacity as Arranger, it facilitated the successful closing and funding of an innovative trade receivables securitization for two subsidiaries of Copamex S.A. de C.V. (“Copamex”). Acting as the Arranger, Master Servicer and Bond Administrator, Finacity successfully structured a fiveyear transaction that provides Copamex with funding for receivables assigned from Copamex subsidiaries Cía. Papelera Maldonado, S.A. de C.V. and Comercializadora Copamex, S.A. de C.V. ...

August 2005

Trade Receivables Securitization for Vitro Plan S.A. de C.V. in Mexico

Finacity Corporation (“Finacity”) announced today that on August 22, 2005, in its capacity as Arranger, it facilitated the successful closing and funding of an innovative trade receivables securitization for four subsidiaries of Vitro Plan, S.A. de C.V. (“Vitro Plan”), a majority owned subsidiary of Vitro S.A. de C.V. (“Vitro”) (NYSE: VTO and BMV: VITRO A). Acting as the Arranger, Master Servicer and Bond Administrator, Finacity successfully structured a five-year transaction that provides Vitro Plan with funding for receivables assigned from Vitro Plan subsidiaries Distribuidora Nacional de Vidrio, S.A. de C.V. (“Dinavisa”), Vitro Flotado Cubiertas, S.A. de C.V. (“VFC”), Vitro Automotriz, S.A. de C.V. (“VAU”) and Vitro Vidrio y Cristal, S.A. de C.V. (“VVC”). ...

April 2005

Securitization for Vitro S.A. de C.V. in Mexico

Finacity Corporation announced today that on March 31, 2005, in its capacity as Arranger, it facilitated the successful closing and funding of an innovative twotranche trade receivables securitization for three subsidiaries of Finacity’s client Vitro Envases Norteamerica S.A. de C.V. (“VENA”), a 100% owned subsidiary of Vitro S.A. de C.V. (“Vitro”) (NYSE: VTO and BMV: VITRO A). Acting as the Arranger, Master Servicer and Bond Administrator, Finacity successfully structured a five-year transaction that provides VENA with an almost 100% advance on receivables assigned from VENA subsidiaries Compania Vidriera, S.A. de C.V., which conducts a substantial majority of VENA's glass container operations in Mexico, Industria del Álcali, S.A. de C.V. which is engaged in the manufacturing and distribution of soda ash, sodium bicarbonate, calcium chloride and salt, and Comercializadora Álcali, S. de R.L. de C.V. which markets Álcali products. ...

2004

2003

2002

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