SOURCE: Finacity

Finacity

September 30, 2009 16:01 ET

Finacity and NORD/LB Announce an Increase to $125 Million of a Trade Receivable Securitization Facility for The Manitowoc Company

NEW YORK, NY--(Marketwire - September 30, 2009) - Finacity Corporation ("Finacity") announced today that, together with Norddeutsche Landesbank Girozentrale ("NORD/LB"), it has facilitated the successful increase to $125 million of a trade receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW). NORD/LB's commercial paper conduit, Hannover Funding Company LLC, will fund the transaction.

About The Manitowoc Company, Inc.

The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with over 100 manufacturing and service facilities in 27 countries. It is recognized as one of the world's largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Manitowoc also is one of the world's leading innovators and manufacturers of commercial foodservice equipment serving the ice, beverage, refrigeration, food prep, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications. More information can be found at www.manitowoc.com.

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 is located in the USA and Europe. For more information about Finacity, please visit www.finacity.com.

About NORD/LB

NORD/LB ranks as number 50 among the world's banks. From its securitization base in New York, the bank specializes in securitization and other structured transactions for its U.S. and European corporate clients. More information on NORD/LB can be found at www.nordlb.com. For securitization information, call 212-812-6946.

Contact Information

  • For more information on this transaction please contact:

    Adrian Katz
    Finacity Corporation
    tel 203-428-3540

    Edward Weber
    NORD/LB
    tel 212-812-6949