Finacity and Wells Fargo Add Asian Originator to Trade Receivables Securitization Facility for The Manitowoc Company

Stamford, CT –September 14, 2015 – Finacity Corporation (“Finacity”) announced today that it has facilitated the successful addition of an Asian Originator to an existing trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW). The $185 million transaction now incorporates a new division (Manitowoc Foodservice Asia Pacific Private Limited). Wells Fargo Capital Finance, a division of Wells Fargo & Company (NYSE: WFC) provided funding for the transaction, while Finacity provided structuring support and is responsible for ongoing program administration and reporting.

About The Manitowoc Company, Inc.
The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with 92 manufacturing, distribution, and service facilities in 25 countries. The company is recognized globally as one of the premier innovators and providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry. Manitowoc is also one of the world’s leading innovators and manufacturers of commercial foodservice equipment, which includes 24 market-leading brands of hot- and cold-focused equipment. In addition, both segments are complemented by a slate of industry-leading product support services. More information can be found at www.manitowoc.com.

About Finacity Corporation
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 165 countries. For further information, please visit www.finacity.com.

About Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based lending services, senior secured lending services, accounts receivable and purchase order finance services, and channel finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior and junior secured financing, accounts receivable financing, purchase order financing and channel finance to companies across the United States and internationally. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software publishing and high-technology, commercial finance, staffing, government contracting and others. For more information, visit www.wellsfargocapitalfinance.com.

For more information on this transaction, please contact:

Finacity Corporation
Michael Rodgers
Tel: (203) 428-3531
mrodgers@finacity.com

Latest News

Press Release

Sep 2022

Finacity and ING Belgium NV Facilitate Increase of Accounts Receivable Securitization Program to $200 Million for Cushman & Wakefield

Finacity Corporation (“Finacity”), a White Oak Company, and ING Belgium SA/NV announce that they have facilitated an increase from $125 million to $200 million of the commitment capacity for the Accounts Receivables Securitization Program for Cushman & Wakefield Inc. (“C&W”), a leading global real estate services firm headquartered in Chicago, IL.

Press Release

Jul 2022

Finacity Facilitates Increase and Renewal of Accounts Receivable Securitization Program to EUR 300 million for the Greek State-Controlled Public Power Corporation S.A.

Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated an increase from EUR 200 million to EUR 300 million of the commitment capacity for the accounts receivable securitization program for Public Power Corporation S.A. [ATHEX: PPC] (“PPC”), the largest Greek electricity generator and the principal supplier of electricity in the country. The securitization program finances consumer and corporate receivables originated by PPC in Greece.

Press Release

Jul 2022

Finacity Facilitates a $70 Million Receivables Securitization Program for American Airlines, Inc.

Finacity Corporation (“Finacity”), a White Oak Company, has successfully facilitated a $70 million receivables securitization program for American Airlines, Inc., headquartered in Fort Worth, Texas. The program focuses on a multi-country, multi-currency portfolio of cargo receivables from certain countries where the airline operates. Finacity provided origination, analytic and structuring support. Finacity serves as the ongoing Administrator for the program.