STAMFORD, CT--(Marketwired - Nov 20, 2013) - Finacity Corporation ("Finacity") announced today the successful merging of two existing trade receivables securitizations for Vitro S.A.B. de C.V. ("Vitro") (BMV: VITRO A). The two programs, each now in its eighth year and collateralized with receivables from subsidiaries of Vitro Envases Norteamerica S.A. de C.V. and Vidrio Plano de México S.A de C.V., were combined into one investment grade bond offering rated 'AAA' on a local scale by two rating agencies. The combined financing amount increased to MXN 1.2 billion overall and was sold to Mexican private and institutional investors with a maturity of 3 years. Finacity will have ongoing responsibility as Master Servicer and Bond Administrator. As Bond Administrator, Finacity will generate daily, monthly, and quarterly reports for the various constituents in order to provide all parties with visibility to assets, collateral values and receivables performance.
"We are proud of our long standing relationship with Vitro and look forward to continuing to be of service to the company in the coming years," said Jair Martinez, Finacity's Head of Latin America.
About Vitro, S.A. de C.V.
Vitro, S.A. de C.V. (
About Finacity Corporation
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual volume of receivables of approximately US $75 billion. With a team in the USA and Europe, Finacity conducts business throughout the world with obligors in 165 countries. For further information, please visit www.finacity.com.
Contact Information:
For more information please contact:
Jair A. Martinez
Tel: (203) 428-3575
Email: