Finacity, a White Oak Company, and DZ Bank launched a 2.5-year, $150 million trade receivables securitization for Nitron Group, a company headquartered in Greenwich, CT. The facility is collateralized by Nitron’s receivables for fertilizer distribution and importation services in Latin America, North America, Europe and Africa.
Finacity served as the transaction administrator and provided analytic and structuring support to DZ Bank, which served as the agent for the transaction and funded the transaction via its ABCP conduit, Autobahn Funding Company.
“We are very excited about the launch of the facility, which will provide crucial support to Nitron’s broader strategy of offering end-to-end solutions to our clients,” Enzo Formato, CFO of Nitron Group, said. “Additionally, the facility will provide Nitron with the liquidity needed to fuel our growth in the coming years. We consider this an important milestone in Nitron’s long history and are very grateful to our partners DZ Bank and Finacity for all their support throughout the process.”
