Press Releases
Finacity facilitates daily funding and reporting at an annual run rate of over $100 billion in receivables with obligors in more than 175 countries
MXN 300 Million Trade Receivable Securitization for Taenza, S.A. (Grupo Zapata)
Nov, 2009 byFinacity Announces a MXN 300 million Trade Receivable Securitization for Taenza, S.A. (Grupo Zapata)
New York, NY – November 2, 2009 – Finacity Corporation (“Finacity”) announced today that it has facilitated the successful closing of a Mexican trade receivable securitization for Taenza, S.A. (“Grupo Zapata”). The issuance provides Grupo Zapata cash proceeds of MXN 300 million over a two-year period through the ongoing purchase of peso and dollar-denominated receivables from five selling entities. The transaction is registered with the CNBV and is rated mxAAA/hrAAA by Standard & Poor’s and HR Ratings respectively. Finacity served as Arranger, providing analytic and structuring support and serves as ongoing Bond Administrator and Master Servicer. Barclays Capital Casa de Bolsa, S.A. de C.V. and IXE Casa de Bolsa, S.A. de C.V. placed the securitization issuance with investors.
“Grupo Zapata is very pleased to have executed a creative and cost-efficient securitization with the integral upfront and ongoing support of Finacity. We believe this investment grade access to the capital markets demonstrates support for the strengths of our business,” said Cayo Zapata, President at Grupo Zapata.
“Finacity is very pleased to implement a successful funding program for Grupo Zapata in Mexico,” said Adrian Katz, Finacity’s Chief Executive Officer.
About Taenza, S.A.
Grupo Zapata is a private Mexican corporate group that is largely family owned under the umbrella of holding company Taenza, S.A. Established in 1926, the company developed into a leading Mexican producer and exporter of containers, lids and other promotional products made of tinplate, plastic and aluminum for the mass consumer markets.
About Finacity Corporation
Finacity Corporation specializes in the structuring and provision of efficient capital markets receivables funding programs, state-of-the-art servicing, and bond administration. Finacity is located in the USA and Europe. For more information about Finacity, please visit www.finacity.com.
For more information on this transaction please contact:
Info
Info@finacity.com
(203) 428-3500
Finacity Facilitates the Upsize and Renewal of a $250 Million IFRS Off-Balance Sheet Securitization for Votorantim Cimentos North America
Finacity Corporation (“Finacity”), a White Oak Company, announced today that it has successfully renewed and upsized its existing IFRS off-balance sheet trade receivables securitization for Votorantim Cimentos North America Inc.…
Finacity Facilitates a USD 30 Million Receivables-Based Loan Program for Novaria Holdings LLC with Synovus Bank
Finacity Corporation (“Finacity”), a White Oak Company, and Synovus Bank (“Synovus”) today announced that they have successfully arranged and closed a USD 30 million receivables-based loan program for Novaria Holdings…
Finacity Reaches Record Milestone: $1 Trillion of Trade Receivables Financed Over the Past 5 Years
Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated the funding of more than $1 trillion of trade receivables over the past 5 years on behalf…
Finacity Facilitates Increase and Expansion of Accounts Receivable Securitization Program to $1.5 Billion with a $1 Billion Accordion Feature for Bunge
Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated an increase from $1.1 billion to $1.5 billion of the commitment capacity, with an accordion feature of…
Finacity Facilitates MXN 1 Billion Securitization for Laboratorios Sanfer, S.A. de C.V.
Finacity Corporation (“Finacity”) announced that it has successfully launched a trade receivables securitization for Laboratorios Sanfer, S.A. de C.V. (“Sanfer”). The transaction amount is MXN 1 billion, it has a…