Finacity Facilitates Closing of Two New ABL Deals
Finacity Corporation announced that it has recently facilitated new asset-based loan facilities for the U.S. affiliates of two of its international corporate clients.
The first transaction is a $17 million, 3-year borrowing base credit facility arranged for a U.S. manufacturer that is part of a larger Asia-based corporate group. The second involves a $3 million borrowing base revolver for the U.S. subsidiary of a European housewares producer / distributor. These two transaction closings follow upon a $15 million ABL revolver that Finacity arranged late last year for a large auto industry consulting firm.
“We’re proud to have facilitated such cost- and structurally efficient asset-based funding solutions for these important clients,” said Finacity CEO Adrian Katz. “These successes reflect Finacity’s continued growth in the structured working capital space, which we view as an important complement to our core trade receivables securitization business.”
Stamford, CT-based Finacity Corporation specializes in the structuring and provision of capital markets receivables funding programs, servicing and bond administration.