Increase to $105 Million of a Trade Receivable Securitization Facility for The Manitowoc Company.
September 2007 by Adrian Katz
Finacity Corporation (“Finacity”) announced today that it has facilitated the successful increase to $105 million of a trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW).
About The Manitowoc Company, Inc.
The Manitowoc Company, Inc. is one of the world’s largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. As a leading manufacturer of ice-cube machines, ice/beverage dispensers, and commercial refrigeration equipment, the company offers the broadest line of coldfocused equipment in the foodservice industry. In addition, the company is a leading provider of shipbuilding, ship repair, and conversion services for government, military, and commercial customers throughout the U.S. maritime industry.
More information can be found at www.manitowoc.com.
About Finacity Corporation
Finacity is a company that specializes in the provision of efficient, securitization-based trade receivables funding solutions as well as state-of-the-art servicing, collections and reporting capabilities. Finacity’s offerings can include both domestic and international receivables for its clients. Finacity’s strategic partners and investors include ABN AMRO Bank, Bank of America, Euler Hermes ACI, Amroc Investments, Avenue Capital, Ecoban, Kleiner Perkins Caufield & Byers and the partners of Texas Pacific Group.
Media Inquiries:Adrian Katz
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