Finacity facilitates daily funding and reporting at an annual run rate of over $100 billion in receivables with obligors in more than 175 countries
Finacity Originates, Structures, and Executes a $70MM Dual Industry Award Winning Securitization Facility for American Airlines, Inc.May, 2023 by Finacity
On April 17th, 2020, Finacity Corporation (“Finacity”) was engaged by American Airlines, Inc. (“American Airlines”) to organize and structure a receivables securitization facility for the different business units of American Airlines and its respective receivables portfolios. Finacity proceeded to complete a Request For Proposal process on behalf of American Airlines and successfully arranged a funding solution with BNP Paribas on September 9th, 2020, during the height of the COVID-19 pandemic in which the airline industry was undergoing significant stress – ultimately closing the transaction on December 24th, 2020, and completing the initial program funding in early January 2021. The transaction focuses on American Airline’s cargo receivables portfolio, including multiple countries and currencies and has been designated as the winner of the Airfinance Journal “Innovative Deal of the Year” award in 2021, and the Airline Economics “Freighter Finance Deal of the Year” award in 2022.
An excerpt from the publication below by Aviation News Limited (Airline Economics) describes the market environment and transaction complexity in additional detail:
Airline Economics – Issue 66