Finacity and ING Belgium SA/NV successfully launch a €100 million PanEuropean Trade Receivables Securitization for Portugal Headquartered Sonae Indústria (SONI.LS)

Sep, 2012 by Finacity

Brussels / Lisbon / London / New York – 14th September 2012.  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. Finacity and ING Belgium SA/NV acted jointly for the setup of the transaction. ING Belgium SA/NV structured and funded the transaction whereas Finacity provided analytic and structuring support, and serves as on-going administrator and back-up servicer.

About Sonae Indústria

SONAE INDÚSTRIA is one of the world’s largest companies within the wood based panels sector, serving the worldwide markets of construction, furniture and decoration. With approx. 4,800 employees, Sonae Indústria is present in Portugal, Spain, Germany, France, the Netherlands, United Kingdom, Switzerland, South Africa and Canada. Sonae Indústria was founded in 1959 and is headquartered in Maia, Portugal. Sonae Indústria’s shares are listed on Euronext Lisbon under ticker SONI. More information can be found at http://www.sonaeindustria.com.

About Finacity

Finacity specializes in the structuring and provision of efficient receivables funding programs, state-of-the-art servicing and administration. Finacity currently facilitates the financing and administration of an annual volume of receivables in excess of $50 billion. Finacity conducts business throughout the world. For more information about Finacity, please visit www.finacity.com.

About ING

ING Belgium SA/NV services all banking customers with a wide range of financial products and via the distribution channel (click, call & face) of their choice. ING Belgium SA/NV employs 9.845 persons* and is a full subsidiary of ING Group N.V. which services 67 million private, corporate and institutional clients** in more than 40 countries in Europe, North America, Latin America, Asia and Australia.
* December 2011
** Numbers adjusted for the sale of ING Direct USA and Insurance Latin America

For more information on this transaction please contact:

Finacity Corporation

Dan Stadnik
Tel: +44 20 3411 2539
Email: dstadnik@finacity.com

Info
Tel: (203) 428-3500
Email: Info@finacity.com

ING Belgium SA/NV

Amador Malnero
Tel: +32 2 547 36 44
Email: amador.malnero@ing.be

Press office ING Belgium
Tel: +32 2 547 24 84
Email: pressoffice@ing.be

Jan 3, 2024
Finacity Facilitates Increase and Expansion of Accounts Receivable Securitization Program to $1.5 Billion with a $1 Billion Accordion Feature for Bunge

Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated an increase from $1.1 billion to $1.5 billion of the commitment capacity, with an accordion feature of…

Dec 15, 2023
Finacity Facilitates MXN 1 Billion Securitization for Laboratorios Sanfer, S.A. de C.V.

Finacity Corporation (“Finacity”) announced that it has successfully launched a trade receivables securitization for Laboratorios Sanfer, S.A. de C.V. (“Sanfer”).  The transaction amount is MXN 1 billion, it has a…

Dec 13, 2023
inVOICES: Weak Inverse Correlation between Payment Terms and Delinquency

inVOICESTM With its global reach in receivables financing, Finacity is in constant contact with active participants in all stages of the receivables market, from originators to funding sources.  Moreover, Finacity…

Nov 30, 2023
Aon Interview on Trade Receivables

Oct 2, 2023
Finacity Facilitates the Upsize and Expansion of an Existing Receivables Securitization Program for Swissport International AG

Finacity Corporation (“Finacity”), a White Oak Global Advisors Company, has successfully closed an upsize and expansion of its existing $75 million IFRS off-balance sheet receivables securitization program to $100 million…