Finacity Facilitates EUR 11.5 million of Trade Receivable Funding for Barcelona-Headquartered ERCROS, SA
January 2015 by Finacity
Barcelona / London / Stamford, CT – 30th January 2015 – Finacity Corporation (“Finacity”) announced today that it has facilitated a new EUR 11.5 million participation in a larger EUR 102 million syndicated factoring program for Ercros S.A. (“Ercros”) (ECR.MC), a Spain-based producer of chemicals. Part of the participation amount replaces the commitment of an existing factor from a predecessor facility, while the remainder represents incremental new liquidity for the company.
Ercros, S.A. manufactures and markets basic and intermediate chemicals, plastics, and pharmaceuticals worldwide. The company’s products are used in pharmaceuticals, derivatives manufacturing, swimming pools, the chemicals industry, compound fodder, paper pulp bleaching, textile bleaching, and water treatment applications.
In 2013, Ercros’ turnover was EUR 625 million, of which 53% was generated in Spain, 29% in the rest of the EU and 18% outside the EU. Ercros has 10 production plants in Spain with a workforce of 1,400 employees. The company was founded in 1817 and is headquartered in Barcelona, Spain. For more information, please visit www.ercros.ed.
About FinacityFinacity 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 $100 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.
For more information on this transaction please contact:
Tel: +44-(0)20-3411 2539
Tel: +1 (203) 428-3584
More recent news
Finacity Announces an Increase to $550 Million of a Global Freight Receivables Securitisation Facility for Germany Headquartered Hapag-Lloyd Group
Hamburg / London / Stamford, CT – January 7, 2020 – Finacity Corporation (“Finacity”) announces today that it has facilitated the successful increase to $550 million of an existing freight rec ...
Finacity Facilitates up to EUR 15 Million Receivables Financing Program for Wiko Mobile in France
Paris & Stamford, Conn. – Dec. 10, 2019 – Finacity Corporation (“Finacity”), part of the Greensill family of companies, announced today that it has facilitated a EUR 15 million receivables fin ...
Finacity Facilitates MXN$750 Million Consumer Loan Securitization Program for Crédito Real
Stamford, CT – October 25, 2019 – Finacity Corporation (“Finacity”) is pleased to announce that it has successfully facilitated a MXN$750 million consumer loan securitization program of Crédi ...