October 2012 by Finacity
Finacity Facilitates a $150 million Receivable Securitization for The Manitowoc Company
Stamford, CT – October 22, 2012 – Finacity Corporation (“Finacity”) announced today that it has facilitated a $150 million securitization for The Manitowoc Company, Inc. (NYSE: MTW). Wells Fargo Bank, NA (NYSE: WFC) provided funding for the transaction. 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 over 100 manufacturing and service facilities in 27 countries. It is recognized as 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. Manitowoc also is one of the world’s leading innovators and manufacturers of commercial foodservice equipment serving the ice, beverage, refrigeration, food prep, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications. More information can be found at www.manitowoc.com.
About Finacity Corporation
Finacity specializes in the structuring and provision of efficient receivables funding programs, state-of-the-art servicing and administration. Finacity currently facilitates the financing and administration of an annual volume of receivables in excess of $50 billion. Finacity conducts business throughout the world. For more information about Finacity, please visit www.finacity.com.
About Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
For more information on this transaction please contact:
Michael Rodgers, Finacity Corporation
Tel: (203) 428-3531
Tom Dolphin, Wells Fargo
Tel: (267) 321-7046