Press Releases
Finacity facilitates daily funding and reporting at an annual run rate of over $100 billion in receivables with obligors in more than 175 countries
$100 Million Receivable Securitization for Germany Headquartered Hapag-Lloyd
May, 2011 byFinacity and NORD/LB Announce $100 million Trade Receivables Securitization Facility for Germany headquartered Hapag-Lloyd GroupHamburg / London / New York – 12th May 2011 – Finacity Corporation (“Finacity”) and Norddeutsche Landesbank Girozentrale (“NORD/LB”) announce today that they have facilitated the successful closing of a trade receivables securitization for Hapag-Lloyd Group (“Hapag-Lloyd”). The funding agreement will initially provide Hapag-Lloyd cash proceeds of up to $100 million through the on-going purchase of receivables.
With these proceeds Hapag-Lloyd AG has refinanced repayments of shareholder loans which were paid back in April, 2011.
Finacity served as Arranger, providing analytic and structuring support and serves as on-going Administrator and back-up Servicer.
NORD/LB, acting as Agent, structured the transaction for Hapag-Lloyd. The transaction will be funded through NORD/LB’s commercial paper conduit, Hannover Funding Company LLC.
About Hapag-Lloyd
Hapag-Lloyd is a leading global liner shipping company with 137 modern ships, almost 5 million containers transported a year and with about 6,900 employees. The Company is present in more than 100 countries. For more than 160 years the Company has set industry-wide benchmarks for reliability, service, productivity and environmental protection.
In FY 2010, Hapag Lloyd AG reported sales of EUR 6,204,000,000 and an adjusted EBITDA of EUR 904,000,000.
About Finacity
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.
About NORD/LB NORD/LB is one of the ten leading banks in Germany. NORD/LB’s Asset Backed Finance Group, based in New York, specializes in securitization and other structured transactions for its customers. More information on NORD/LB can be found on www.nordlb.com or www.nordlbnewyork.com.
For more information on this transaction please contact:
Finacity
Info
Info@finacity.com
(203) 428-3500
NORD/LB
Edward Weber (USA)
Tel +1 212 812 6949
edward.weber@nordlb.com
Finacity Facilitates the Upsize and Renewal of a $250 Million IFRS Off-Balance Sheet Securitization for Votorantim Cimentos North America
Finacity Corporation (“Finacity”), a White Oak Company, announced today that it has successfully renewed and upsized its existing IFRS off-balance sheet trade receivables securitization for Votorantim Cimentos North America Inc.…
Finacity Facilitates a USD 30 Million Receivables-Based Loan Program for Novaria Holdings LLC with Synovus Bank
Finacity Corporation (“Finacity”), a White Oak Company, and Synovus Bank (“Synovus”) today announced that they have successfully arranged and closed a USD 30 million receivables-based loan program for Novaria Holdings…
Finacity Reaches Record Milestone: $1 Trillion of Trade Receivables Financed Over the Past 5 Years
Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated the funding of more than $1 trillion of trade receivables over the past 5 years on behalf…
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…