Successful Renewal of Trade Receivables Securitization for Vitro S.A.B. de C.V. in Mexico
April 2010 by Finacity
Finacity Corporation Announces Successful Renewal of Trade Receivables Securitization for Vitro S.A.B. de C.V. in Mexico
New York, NY, April 30, 2010 – Finacity Corporation announced today the successful extension of a MXN 550,000,000 variable rate investment grade bond for one of its clients, Vitro Envases Norteamerica S.A. de C.V. (“VENA”), a 100% owned subsidiary of Vitro S.A.B. de C.V. (“Vitro”) (BMV: VITRO A). The securitization program, now in its fifth year, was renewed on March 25, 2010 for an additional two years. Finacity will continue in its role as Master Servicer and Bond Administrator. As Bond Administrator, Finacity will generate reports daily for the various constituents in order to provide all parties with visibility to assets, collateral values and receivables performance.
“We are proud and pleased to continue to be of service to Vitro,” said Adrian Katz, Finacity’s Chief Executive Officer.
About Finacity Corporation
Finacity specializes in the provision of efficient, securitization-based trade receivables funding, state-of-the-art servicing, detailed transaction transparency and reporting solutions. Finacity’s offerings can include both domestic and international receivables for its clients. Finacity is active globally with receivable obligors in more than 80 countries. More information can be found at www.finacity.com.
Vitro, S.A.B. de C.V.
Vitro, through its subsidiary companies, is one of the world’s leading glass producers. Vitro is a major participant in two principal businesses: flat glass and glass containers. Vitro serves multiple product markets, including construction and automotive glass; food and beverage, wine, liquor, cosmetics and pharmaceutical glass containers; glassware for commercial, industrial and retail uses. Vitro also produces raw materials and equipment and capital goods for industrial use. Founded in 1909 in Monterrey, Mexico-based Vitro has joint ventures with major world-class partners and industry leaders that provide its subsidiaries with access to international markets, distribution channels and state-of-the-art technology. Vitro’s subsidiaries have facilities and distribution centers in ten countries, located in North, Central and South America, and Europe, and export to more than 70 countries worldwide. More information can be found at www.vitro.com.
More recent news
Finacity Facilitates EUR 9 million of Trade Receivable Funding for Spain’s Deoleo, S.A.
Finacity Corporation (“Finacity”) today announced that it has facilitated a new EUR 9 million non-recourse trade receivable funding program for Deoleo S.A. (“Deoleo”), a Spain-based leading gl ...
Finacity Facilitates Second Consumer Loan Securitization Program for CREDITO REAL for MXN$615 Million
Finacity Corporation (“Finacity”) is pleased to announce that it has successfully facilitated and will serve as ongoing Master Servicer for the MXN$615 million consumer loan securitization program ...
Finacity Announces the Increase to $300 Million of a Trade Receivables Securitization Facility for Ferroglobe, PLC
Finacity Corporation (“Finacity”) announces that it has facilitated the successful increase to $300 million of an existing trade receivables securitization for Ferroglobe, PLC (“Ferroglobe”). ...