Contact Information: Media Inquiries: Adrian Katz Finacity Corporation (203) 428-3540 Email Contact
Finacity Corporation Increases Trade Receivables Securitization Program for Fortune 100 Client
| Source: Finacity
NEW YORK, NY--(Marketwire - May 31, 2007) - Finacity Corporation announced that it
successfully upsized a significant trade receivables securitization
transaction for one of its clients, a Fortune 100 company. The funding
program, now in its fifth year, has been increased to $150 million in
funding availability. The upsized transaction includes receivables from
obligors in Asia, North America and Latin America. The program is funded
by a facility setup with an asset-backed commercial paper conduit sponsored
by a leading European bank. Euler Hermes ACI, the leading trade credit
insurer in North America, continues to insure the credit and political risk
associated with the underlying obligor receivables purchased.
"We are extremely pleased to continue to serve this sophisticated
multinational client," said Adrian Katz, CEO of Finacity. "The expansion
of this program, in both size and scope, clearly demonstrates that
Finacity's offering, in conjunction with its partner Euler Hermes ACI, is
providing a valuable blend of efficient funding and risk mitigation for our
client."
About Finacity Corporation
Finacity is a company that specializes in the provision of efficient,
securitization-based trade receivables funding solutions as well as
state-of-the-art servicing, collections and reporting capabilities.
Finacity's offerings can include both domestic and international
receivables for its clients. Finacity's strategic partners and investors
include ABN AMRO Bank, Bank of America, Euler Hermes ACI, Amroc
Investments, Avenue Capital, Ecoban, Kleiner Perkins Caufield & Byers, Bain
& Company and the partners of Texas Pacific Group.
More information can be found at www.finacity.com.
For more information on Euler Hermes ACI, please visit www.eulerhermes.com