February 2019 by Trade Finance Global
Finacity Corporation (“Finacity”) announced recently that it has hosted four gatherings of senior finance professionals for an opportunity to network with peers and to learn about the very latest developments in Receivables Securitization.
The events were successful and positive feedback received, for example: “I found yesterday’s meeting quite interesting. KraussMaffei Group have looked into receivables securitization from time to time in the past but so far without finding an acceptable pragmatic solution. Finacity appears to be knowledgeable and hands-on as well so we may have a fresh look at the topic in the second half of this year. Thank you again for the invitation to yesterday’s event.” – Dr. Wolfgang W. Molter, Head of Group Treasury.
Finacity Corporation is a recipient of the prestigious “Presidential Award for Export Service” from the United States Department of Commerce. As a follow-on to this, The US Commercial Service, the trade promotion agency under the US Department of Commerce, organized round-table gatherings of senior finance professionals at its various embassies and consulates around the world.
These gatherings have been an opportunity for finance executives to network with peers and to learn about the very latest developments in Receivables Securitization and similar financing solutions. The first such events were hosted last year at the US Embassies in London and The Hague. This was followed with similar events this month at the US Embassies and Consulates in Paris, Dusseldorf, Madrid and Lisbon, with more planned later in the year.
Representation at the events has been from a wide range of business sectors, including manufacturing, commodity trading, logistics and packaging. Receivables Securitization can lower a company’s all-in financing costs and maximize liquidity, while diversifying sources of funding. It is also an opportunity for off-balance sheet treatment of receivables through a facility which does not encumber other assets and has minimal covenants.
At the events there was discussion comparing securitization to the other forms of receivables finance including factoring, asset-based loans and forfaiting, with focus on their various strengths and weaknesses. There was also presentation and discussion on the global status of money supply and pricing, with perspectives on business sectors and geography.
Subsequent to the embassy and consulate events, numerous attendees approached Finacity for follow-up in relation to their specific organisations and how Finacity may assist with their receivables finance and improving their overall capital stack.
The next US Embassy event is planned for 28th March in Toronto with the possibility of scheduling additional events in Asia and Latin America, later this year.
Finacity’s notable founding shareholders include Bank of America, ABN AMRO and Euler Hermes. The relationship is non-captive allowing Finacity to partner openly with investors, insurers and other service providers best suited to the client. Now 18 years since Finacity was created, Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries.