Finacity oils trade receivable funding with Eurofactor

Finacity brought in Credit Agricole’s Eurofactor to fund an €18 million ($19 million) trade receivable funding programme for Spanish olive oil producer Deoleo,Trade Finance has learned.

The one year facility provides financing for both domestic and export receivables from Deoleo’s Spanish operating entity, according to a spokesman for Finacity.

The deal replaces another facility that expired in December.

Founded in 1990 and headquartered in Spain, Deoleo manufactures, markets and sells olive oil worldwide. It also provides seed oils, table olives, vinegars and other sauces and sells its products in more than 100 countries.

Last month, Finacity also teamed up with ING Belgium to launch a $100 million trade receivables securitisation for C&W Facility Services.