SOURCE: Finacity

Finacity

August 21, 2014 12:00 ET

Finacity Facilitates $55 Million Off-Balance Sheet (IFRS De-Recognition) Receivables Securitization Program for Greek Multinational Client

STAMFORD, CT--(Marketwired - Aug 21, 2014) -  Finacity Corporation ("Finacity") announced today that it has facilitated the successful closing and funding of an innovative trade receivables securitization program for a Greece-headquartered multinational corporation. The securitization program will initially provide Finacity's client with cash proceeds of up to $55 million through the on-going purchase of trade accounts receivable.

This program is intended to enhance the client's financial flexibility by providing an additional source of competitively priced funding. The program achieves IFRS de-recognition (Off-Balance Sheet Treatment) of sold trade accounts receivable and the corresponding liabilities, an increasingly important objective of many global companies.

Finacity worked with its client to facilitate the securitization by helping to source financing, as well as providing analytic and structuring support, administration, surveillance, and reporting. 

About Finacity Corporation

Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual volume of receivables of approximately US $95 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

Contact Information

  • Finacity Corporation

    Bruce Miller
    Managing Director
    (203) 428-3509
    Email: Email Contact