Finacity Facilitates €500 million Global Trade Receivables Securitization Program on Behalf of StyrolutionOct, 2011 by Finacity
New York – 5th October 2011 – 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. This program is intended to enhance Styrolution’s financial flexibility by providing an additional source of funding for its operations.
Finacity helped Styrolution launch the securitization by providing analytic and structuring support, and serves as on-going Administrator providing comprehensive reporting. The program will be funded through a single bank-sponsored commercial paper conduit.
Styrolution is the leading global styrenics supplier with a focus on styrene monomer, polystyrene, copolymers, and ABS. As a joint venture of BASF and INEOS, Styrolution combines the key styrenics assets of two of the biggest chemical companies in the world – with more than 70 years of experience, complementary competencies and portfolios. Styrolution strives to serve the success of its customers by offering them the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenics applications for many everyday products across a broad range of industries, including automotive, electrical/electronics, building and construction, household appliances, toys/sports/leisure, packaging, healthcare and diagnostics. In 2010, pro forma combined sales were at €6.4 billion, resulting in an EBITDA before exceptionals of €407 million. Styrolution employs about 3,400 people at 17 sites in ten countries.
Finacity specializes in the structuring and provision of efficient receivables funding programs, state-of-the-art servicing and administration. Finacity conducts business throughout the world. For more information about Finacity, please visit www.finacity.com.
For more information on this transaction please contact:
Tel: +1 203 428 3519 (USA)
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…
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…
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…
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…