$55 Million Off-Balance Sheet (IFRS De-Recognition) Receivables Securitization Program for Greek Multinational Client
August 2014 by Finacity
Stamford, CT – August 21st, 2014 – Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing and funding of an innovative trade receivables securitization program for a Greece-headquartered multinational corporation. The securitization program will initially provide Finacity’s client with cash proceeds of up to $55 million through the on-going purchase of trade accounts receivable.
This program is intended to enhance the client’s financial flexibility by providing an additional source of competitively priced funding. The program achieves IFRS de-recognition (Off-Balance Sheet Treatment) of sold trade accounts receivable and the corresponding liabilities, an increasingly important objective of many global companies.
Finacity worked with its client to facilitate the securitization by helping to source financing, as well as providing analytic and structuring support, administration, surveillance, and reporting.
About Finacity Corporation
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual volume of receivables of approximately US $95 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 165 countries. For further information, please visit www.finacity.com.
More recent news
Finacity Facilitates up to EUR 75 Million Receivables Securitization Program for Green Network in Italy
Finacity Corporation (“Finacity”), part of the Greensill family of companies, has successfully launched a receivables securitization program for Green Network S.p.A. (“Green Network”), a compa ...
Finacity Corporation Joins Greensill
Transaction enables a superior and comprehensive set of best in class financing solutions to solve an even broader range of client needs Greensill, the leading non-bank provider of working capital ...
Finacity Serves as Advisor on Dinerito Audaz US$10 million Consumer Loan Funding Program
Finacity Corporation (“Finacity”) is pleased to announce that it served as advisor to a new US$10 million loan funding program recently closed between Dinerito Audaz, S.A.P.I. de C.V. SOFOM, E.N.R ...