SOURCE: Finacity

Finacity

May 01, 2014 10:23 ET

Finacity Closes Two New Asset-Based Loan Transactions

STAMFORD, CT--(Marketwired - May 1, 2014) - Finacity Corporation ("Finacity") is pleased to announce that it has recently facilitated new asset-based loan ("ABL") facilities for the US affiliates of two of its international corporate clients. The first transaction is a $17 million, 3-year borrowing base credit facility arranged for a US manufacturer that is part of a larger Asia-based corporate group. The second involves a $3 million borrowing base revolver for the US subsidiary of a European housewares producer / distributor. These two transaction closings follow upon a $15 million ABL revolver that Finacity arranged late last year for a large auto industry consulting firm.

"We're proud to have facilitated such cost- and structurally efficient asset-based funding solutions for these important clients," said Finacity CEO Adrian Katz. "These successes reflect Finacity's continued growth in the structured working capital space, which we view as an important complement to our core trade receivables securitization business."

About Finacity Corporation

Finacity Corporation specializes in the structuring and provision of efficient capital markets receivables funding programs, state-of-the-art servicing, and bond administration. Finacity currently facilitates the financing and administration of approximately $90 billion of receivables annually. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world. For more information on our company, please visit www.finacity.com.

Contact Information

  • For more information, please contact Finacity Corporation at:

    Jim Leonard
    Managing Director, Alternative Funding Solutions
    Tel: (203) 428-3584

    Tom Heslenfeld
    SVP, Business Development
    Tel: (203) 428-3519

    Mike Brennan
    VP, Business Development
    Tel: (203) 428-3582