April 2008 by Finacity
Finacity Extends $150 Million Receivables Securitization for Fortune 100 Client
New York, NY, April 25, 2008 – Finacity Corporation (“Finacity”) announced that it successfully extended a $150 million trade receivables securitization transaction for one of its clients, a Fortune 100 company. The funding program, now in its sixth year, includes receivables from obligors in Asia, North America and Latin America. The program is funded by a facility setup with an asset-backed commercial paper conduit sponsored by a leading European bank. Euler Hermes ACI, the leading trade credit insurer in North America, continues to insure the credit and political risk associated with the underlying obligor receivables purchased.
“We are extremely pleased to continue to serve this sophisticated multinational client,” said Adrian Katz, CEO of Finacity. “The continuation of this program clearly demonstrates that Finacity’s offering, in conjunction with its partner Euler Hermes ACI, is providing a valuable blend of efficient funding and risk mitigation for our client.”
Finacity Corporation is a company that specializes in providing efficient capital markets receivables funding programs, and state-of-the-art servicing and collections. Finacity is located in the USA and Europe. For more information about Finacity, please visit www.finacity.com.
For more information on Euler Hermes ACI, please visit www.eulerhermes.com.