Finacity Supports $150 Million Receivables Securitization for Nitron Group CorporationOct, 2021 by Finacity
Stamford, CT – October 25, 2021 – Finacity Corporation, a White Oak Company, (“Finacity”) and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt AM Main, New York Branch (“DZ BANK”) announce that they have successfully launched a trade receivables securitization for Nitron Group LLC (“Nitron”), a company headquartered in Greenwich, CT. The 2.5-year facility is collateralized by Nitron’s receivables for fertilizer distribution and importation services in Latin America, North America, Europe, and Africa.
Finacity serves as the Transaction Administrator and provided analytic and structuring support to DZ BANK which serves as the Agent for the transaction and funded the transaction via its ABCP conduit Autobahn Funding Company LLC.
Enzo Formato, the CFO of Nitron Group, commented: “We are very excited about the launch of the facility, which will provide crucial support to Nitron’s broader strategy of offering end-to-end solutions to our clients. Additionally, the facility will provide Nitron with the liquidity needed to fuel our growth in the coming years. We consider this an important milestone in Nitron’s long history and are very grateful to our partners DZ BANK and Finacity for all their support throughout the process.”
About Nitron Group Corporation
Founded in 1982 and headquartered in Greenwich, CT, Nitron Group LLC is a leading global trader of chemical and agricultural fertilizers including urea, ammonium nitrate and sulfate, phosphates, and potash. Serving clients in over 65 countries, the company offers a wide variety of services focused on the distribution, importation and warehousing of chemical and agricultural fertilizers, enabling clients in Latin America, North America, Europe and Africa to receive a product which meets the legal, safety and environmental standards. For further information, please visit www.nitrongroup.com.
About Finacity, a White Oak Company
Finacity, a White Oak Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe Latin America and Asia, Finacity conducts business throughout the world with obligors in 175 countries. Finacity, is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.
For more information on this transaction, please contact:
Tel: +1 (203) 428-3500
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