Finacity Facilitates a EUR 30 Million Receivables Financing Program for Green Network in ItalyJun, 2018 by Finacity
Rome / Stamford – (June 20, 2018) – Finacity Corporation (“Finacity”) announced today that it has facilitated a EUR 30 million receivables financing facility for Green Network, a primary independent Italian player in the energy market. The new facility provides additional financing for the growth of the company in the electricity and gas markets in Italy.
About Green Network
The Green Network Group was founded in 2003 by an enthusiastic group of professionals who, since the outset, have worked hard to make the company one of the most firmly established and reliable operators on the Italian energy market. Created following the deregulation of the electricity market (Bersani Decree 79/99), the Group has been an energy partner to major domestic business clients since the outset, acting as a middleman between them and the domestic producers. Green Network is also the first independent player to enter in the UK market as a supplier, currently serving 250,000 retail users. In November 2017, Green Network acquired Energrid and Tradeinv Gas & Energy from the US fund HII. This acquisition has led to the formation of one of the largest Italian groups in energy sales (Power & Gas) with more than 600,000 customers and sales of 10 Tw/h for power and 500 MSmc for Gas.
For further information, please visit www.greennetwork.it.
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual volume of receivables of approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. For further information, please visit www.finacity.com.
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