SOURCE: Finacity

Finacity

May 03, 2010 08:45 ET

Finacity Corporation Announces Successful Renewal of Trade Receivables Securitization for Vitro S.A.B. de C.V. in Mexico

NEW YORK, NY--(Marketwire - May 3, 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.

Contact Information

  • Media Inquiries:

    Adrian Katz
    Finacity Corporation
    (203) 428-3540
    Email Contact