Finacity Facilitates Increase and Renewal of Accounts Receivable Securitization Program to EUR 300 million for the Greek State-Controlled Public Power Corporation S.A.
Jul, 2022 by FinacityStamford, CT – July 18, 2022 – Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated an increase from EUR 200 million to EUR 300 million of the commitment capacity for the accounts receivable securitization program for Public Power Corporation S.A. [ATHEX: PPC] (“PPC”), the largest Greek electricity generator and the principal supplier of electricity in the country. The securitization program finances consumer and corporate receivables originated by PPC in Greece.
Finacity provided analytic and structuring support, as well as serving as the ongoing transaction administrator.
About Public Power Corporation
Public Power Corporation, a Greek State-controlled entity, is the leading player in the Greek energy market. PPC supplies power to approximately 6.3 million customers throughout Greece and is the largest power generation company in the country. The company currently holds about 64% of the Greek energy market share. PPC was established in 1950 and has its headquarters based out of Athens, Greece. The company has been a publicly listed entity since December 2001, with a market capitalization of EUR 2.06 billion as of July 15, 2022. To learn more about Public Power Corporation, please visit https://www.dei.gr/en.
About Finacity, a White Oak Company
Finacity, a White Oak Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $150 billion. With resources in the USA, Europe, Asia, and Latin America, 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:
FINACITY CORPORATION
Jason Kim
USA Tel: +1 (203) 428-3520
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