$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 EUR 9 million of Trade Receivable Funding for Spain’s Deoleo, S.A.
Finacity Corporation (“Finacity”) today announced that it has facilitated a new EUR 9 million non-recourse trade receivable funding program for Deoleo S.A. (“Deoleo”), a Spain-based leading gl ...
Finacity Facilitates Second Consumer Loan Securitization Program for CREDITO REAL for MXN$615 Million
Finacity Corporation (“Finacity”) is pleased to announce that it has successfully facilitated and will serve as ongoing Master Servicer for the MXN$615 million consumer loan securitization program ...
Finacity Announces the Increase to $300 Million of a Trade Receivables Securitization Facility for Ferroglobe, PLC
Finacity Corporation (“Finacity”) announces that it has facilitated the successful increase to $300 million of an existing trade receivables securitization for Ferroglobe, PLC (“Ferroglobe”). ...