STAMFORD, Conn., Jan. 29, 2020 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”), a member of the Greensill family of companies, announces the close of a trade receivables securitization for Nitron Group LLC (“Nitron”). The facility supported by Nitron’s global receivables portfolio allows for up to $200 million in funding.
Finacity provided analytic and structuring support, as well as serving as the ongoing Transaction Administrator.
The program is the latest deal struck since Finacity joined Greensill in June of 2019, adding Finacity’s world leading receivables securitization capabilities to Greensill’s market leading financing capabilities for all aspects of working capital finance.
About Nitron Group
Founded in 1982 and headquartered in Greenwich, CT, Nitron Group LLC is a leading global trader of chemical and agricultural fertilizers including urea, ammonium nitrate and sulfate, phosphates, and potash. Serving clients in over 65 countries, the company offers a wide variety of services focused on the distribution, importation and warehousing of chemical and agricultural fertilizers, enabling clients in Latin America, North America, Europe and Africa to receive a product which meets the legal, safety and environmental standards. For further information, please visit www.nitrongroup.com.
About Finacity
Finacity, a member of the Greensill family of companies, 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 $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. For further information, please visit www.finacity.com.
About Greensill
Greensill is a leading provider of finance to businesses and people around the world. Founded in 2011, Greensill offers alternative sources of funding, allowing companies to provide suppliers with the opportunity for faster payment, while at the same time preserving their own capital position. The company is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Sao Paulo, Mexico City, Johannesburg, Sydney, Warrington and Bundaberg. Greensill provides working capital finance facilities to customers across Europe, North America, Latin America, Middle East, Africa, and Asia. The company owns Greensill Bank, which was founded in Bremen, Germany in 1927, has a suite of proprietary Supply Chain Finance Funds run by world leading fund management organisations, acquired Finacity in June 2019 and FreeUp in October 2019. Greensill works with dozens of institutional investors that together provide stable funding. In 2019, Greensill provided more than US$150 billion of financing to more than 8 million customers and suppliers across more than 175 countries. For further information, please visit greensill.com.
For more information on this transaction, please contact:
Finacity Corporation
Darren Davies
USA TEL +1 (203) 428-3537
ddavies@finacity.com