Finacity Facilitates a EUR 50 Million Receivables Securitization Program for Metinvest Trametal and Ferriera Valsider in Italy
2024年7月22日 - 10:27PM
Finacity Corporation (“Finacity”), a White Oak Global Advisors
Company, announced that it has successfully launched a EUR 50
million receivables securitization program for Metinvest Trametal
and Ferriera Valsider, two re-rolling steel mills headquartered in
Genoa, Italy, which are part of Metinvest Group (“Metinvest”) with
assets based in Ukraine, the EU, the UK and the US. Finacity
provided origination, analytic and structuring support, and serves
as the ongoing Administrator.
The transaction has been structured by Banca
Akros S.p.A (Gruppo Banco BPM), through an Italian Law 130 /99
special purpose vehicle issuing partially paid variable funding
senior notes subscribed by Banco BPM S.p.A. as senior investor.
Securitization is a part of Metinvest’s funding
strategy aimed at supporting sales in the EU and improving the
working capital position of Italian re-rollers of Metinvest.
Yuriy Ryzhenkov, Chief Executive Officer of
Metinvest, stated, “We appreciate embarking on a new receivables
securitization transaction with Finacity, with whom we have already
built a good track record in the past.”
About
Metinvest
METINVEST is a vertically integrated group of
steel and mining companies that manages every link of the value
chain, from mining and processing iron ore and coal to making and
selling semi-finished and finished steel products. It comprises
steel and mining production facilities located in Ukraine, the UK,
the EU and the US, as well as a sales network covering all key
global markets. For financial reporting purposes, Metinvest’s
business is divided into two segments: Metallurgical and
Mining.
For further information please visit:
www.metinvestholding.com
About Metinvest Trametal and
Ferriera Valsider
Metinvest Trametal SpA (“Metinvest Trametal”)
and Ferriera Valsider SpA (“Ferriera Valsider”) are Metinvest’s
steel plate re-rollers located in Italy. They have approximately
1.2 million tons of flat product capacity (plates and hot rolled
coils). They offer a wide range of grades suitable for application
in numerous industrial sectors.
For further information please visit:
www.metinvestholding.com
About Finacity, a White Oak Global
Advisors Company
Finacity, a White Oak Global Advisors Company,
specializes in the structuring and provision of efficient capital
markets receivables funding programs, supplier and payables
finance, back-up servicing, and program administration. Finacity
currently facilitates the financing and administration of an annual
receivables volume of approximately US $200 billion. With resources
in the USA, Europe, Latin America, and Asia, Finacity conducts
business throughout the world with obligors in over 210 countries
and territories. Finacity is affiliated with White Oak Global
Advisors, LLC, a leading alternative debt manager specializing in
originating and providing financing solutions to facilitate the
growth, refinancing, and recapitalization of small and medium
enterprises.
For further information, please visit
www.finacity.com.
For more information on this transaction please
contact:
Finacity
Joao
Valente
Tel: +1 (203)
428-3536
Email: jvalente@wofinacity.com