Debt in Disguise

Why does WESCO International Inc. use accounts-receivables securitization, a form of financing so closely linked to the subprime-mortgage meltdown? “Because we can,” says senior vice president and CFO Stephen Van Oss. Van Oss is speaking only partly tongue-in-cheek. His company, a $5.3 billion distributor of electrical products, has a high-quality customer base and a robust IT platform for tracking the performance of receivables, capabilities demanded by banks and credit rating agencies.

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Press Release

Sep 2020

Finacity Arranges a EUR 60 million Receivables Securitization Facility for Kongsberg Automotive ASA

Finacity Corporation (“Finacity”) announces the closing of a trade receivables securitization program for Kongsberg Automotive ASA [OB: KOA] (“Kongsberg Automotive”), the Norwegian supplier to the global automotive industry. The securitization program finances trade receivables originated by the company’s businesses in the US, Canada, France, Poland and Slovakia.

Press Release

May 2020

Finacity Arranges Receivables Securitization for Startek, Inc.

Finacity Corporation (“Finacity”), a member of the Greensill family of companies, announces the close of a trade receivables securitization program for Startek, Inc. (“Startek”) in April 2020. The securitization program finances receivables originated by Startek’s entities in the United States.

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