Finacity Facilitates Expansion of Trade Receivable Funding Program to Include URSA’s Subsidiaries in the United Kingdom and Italy
November 2015 by Finacity
Madrid / London / New York – November 2, 2015 – Finacity Corporation (“Finacity”) announced today that it has facilitated the addition of two new tranches to an existing multi-country European trade receivable funding program that had been arranged previously for URSA Insulation, S.A. (“URSA”). The original program had funded receivables originated by URSA’s subsidiaries in France, Spain and Belgium. The expanded program has been enlarged to also incorporate receivables originated by the company’s subsidiaries in Italy and the United Kingdom, with the aggregate financing limit increased from EUR 26 million to EUR 31 million.
URSA is a leading European insulation provider with the headquarters in Madrid, Spain. With approximately EUR 500 million turnover, URSA is one of the major insulation players in Europe, focused on glass mineral wool and extruded polystyrene (XPS) as solutions for insulating residential and non-residential buildings, both new and being renovated. With 13 production sites in 8 countries and a commercial presence in around 40 markets in Europe, Middle East and Northern Africa. URSA employs approximately 2,000 people in countries such as Germany, France, Russia, Poland, Slovenia, Austria, Czech Republic, Italy, Spain, Belgium, United Kingdom, etc.
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 $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
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