SOURCE: Finacity

Finacity

January 30, 2015 02:30 ET

Finacity Facilitates EUR 11.5 Million of Trade Receivable Funding for Barcelona-Headquartered ERCROS, SA

BARCELONA, SPAIN and LONDON, UNITED KINGDOM and STAMFORD, CT--(Marketwired - Jan 30, 2015) - Finacity Corporation ("Finacity") announced today that it has facilitated a new EUR 11.5 million participation in a larger EUR 102 million syndicated factoring program for Ercros S.A. ("Ercros") (ECR.MC), a Spain-based producer of chemicals. Part of the participation amount replaces the commitment of an existing factor from a predecessor facility, while the remainder represents incremental new liquidity for the company.

About Ercros

Ercros, S.A. manufactures and markets basic and intermediate chemicals, plastics, and pharmaceuticals worldwide. The company's products are used in pharmaceuticals, derivatives manufacturing, swimming pools, the chemicals industry, compound fodder, paper pulp bleaching, textile bleaching, and water treatment applications.

In 2013, Ercros' turnover was EUR 625 million, of which 53% was generated in Spain, 29% in the rest of the EU and 18% outside the EU. Ercros has 10 production plants in Spain with a workforce of 1,400 employees. The company was founded in 1817 and is headquartered in Barcelona, Spain. For more information, please visit www.ercros.es.

About Finacity

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 $100 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

  • For more information on this transaction please contact:

    Finacity
    Daniel Stadnik
    Tel: +44-(0)20-3411 2539
    Email: Email Contact

    Jim Leonard
    Tel: +1 (203) 428-3584
    Email: Email Contact