NEW YORK, NY--(Marketwire - January 18, 2011) - Finacity Corporation ("Finacity") and Fortis Commercial Finance ('FCF') announced that they successfully closed a trade receivables funding program for INAPA Spain. The funding facility provides INAPA Spain with up to EUR 20 Million in receivables financing.
About INAPA Group
INAPA, headquartered in Portugal, is one of Europe's leading paper suppliers, with a particularly strong presence in Germany, France, Switzerland, Spain and Portugal. The Group's main activity is the sale and distribution of commercial printing and office papers to printers, publishing houses and corporate entities.
About Finacity Corporation
Finacity Corporation specializes in the structuring and provision of efficient receivables funding programs, state-of-the-art servicing and administration. Finacity conducts business throughout the world. For more information about Finacity, please visit www.finacity.com.
About Fortis Commercial Finance
Fortis Commercial Finance (FCF), headquartered in The Netherlands, is a globally leading service provider for commercial finance and factoring. FCF's main activity is to provide financing, receivables management and risk coverage services across Europe. FCF, with offices in 13 countries, is fully-owned by ABN AMRO Bank N.V. and will be rebranded by February 21 towards ABN AMRO Commercial Finance.
Contact Information:
For more information on this transaction please contact:
Finacity Corporation
Charles Nahum (UK)
Tel +44 20 7935 3390