SOURCE: Finacity Corporation

December 10, 2007 09:15 ET

Finacity Announces a Five-Year $150 Million Trade Receivable Securitization Facility for Northwest Airlines

NEW YORK, NY--(Marketwire - December 10, 2007) - Finacity Corporation announced today that it has facilitated the successful refinancing of a trade receivables securitization for Northwest Airlines, Inc. (NYSE: NWA) at attractive pricing levels of CP+100 bps per annum. Finacity served as arranger and will provide ongoing administrative and reporting services for the transaction. NWA and Finacity successfully structured a five-year transaction that provides NWA with funding for certain operating receivables. The agreement will provide NWA cash proceeds of up to $150 million through the ongoing purchase of the receivables.

Dan Matthews, NWA's Senior Vice President and Treasurer, said: "Despite current conditions, completing this facility demonstrates NWA's ability to raise attractive financing in the capital markets. We are very pleased that we were able to complete this transaction with the support of Finacity Corporation."

"Finacity is proud to have facilitated a cost-efficient receivable securitization for NWA," said Adrian Katz, Finacity's chief executive officer.

About Northwest Airlines, Inc.

Northwest Airlines is one of the world's largest airlines with hubs at Detroit, Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and approximately 1,400 daily departures. Northwest is a member of SkyTeam, an airline alliance that offers customers one of the world's most extensive global networks. Northwest and its travel partners serve more than 1,000 cities in excess of 160 countries on six continents.

More information can be found at

About Finacity Corporation

Finacity Corporation specializes in the arranging and structuring of efficient capital markets funding programs, state-of-the-art servicing, and bond administration. Finacity's annual flow of receivables exceeds $10 billion. Finacity's strategic partners include ABN AMRO Bank, Bank of America and Euler Hermes ACI, and is located in the USA and Europe. For more information about Finacity, please visit

Contact Information

  • For more information on this transaction please contact:

    Thomas Heslenfeld
    Finacity Corporation
    tel 203-428-3519 (USA)