Contact Information: Media Inquiries: Adrian Katz Finacity Corporation (203) 428-3540
Finacity Corporation Announces a Five-Year, Trade Receivables Securitization Facility for Papel, Cartón y Derivados S.A. de C.V.
| Source: Finacity
NEW YORK, NY--(Marketwire - August 9, 2007) - Finacity Corporation ("Finacity") announced
today that in its capacity as Arranger, it facilitated the successful
closing and funding of an innovative trade receivables securitization for
Papel, Cartón y Derivados S.A. de C.V. ("PCD"). Acting as the Arranger,
Master Servicer and Bond Administrator, Finacity successfully structured a
five-year transaction that provides PCD with funding for receivables
assigned from PCD.
The construct developed by Finacity involved the purchase of up to an MXN
270 million senior tranche by a targeted investor, a leading Mexican bank.
The senior tranche is rated AA+.mx by Standard & Poor's Mexico and is
expected to mature in 2013. Finacity has ongoing responsibilities that
include performing as the Master Servicer and Bond Administrator. As Bond
Administrator, Finacity will generate reports daily for the various
constituents: PCD, investor and rating agency in order to provide all
parties with visibility to assets, collateral values and receivables
performance.
"We are very pleased to have launched a well priced, highly rated and
collateral maximizing funding that proved compelling to PCD and the
investor. This transaction demonstrates PCD's flexible and cost-efficient
access to the capital markets," commented Refugio Gonzalez, PCD's Chairman.
"We are very proud to facilitate PCD in its long-term funding objectives,"
said Adrian Katz, Finacity's Chief Executive Officer.
About Finacity Corporation
Finacity is a company that specializes in the provision of efficient,
securitization-based trade receivables funding solutions as well as state-of-the-art servicing, collections and reporting capabilities. Finacity's
offerings can include both domestic and international receivables for its
clients. Finacity's strategic partners and investors include ABN AMRO
Bank, Bank of America, Euler Hermes ACI, Amroc Investments, Avenue Capital,
Ecoban, Kleiner Perkins Caufield & Byers and the partners of Texas Pacific
Group.
Finacity has offices in the United States and Europe. More information can
be found at www.finacity.com.
About Papel, Cartón y Derivados de C.V.
PCD is a private company founded in 1973 and based in Celaya, Mexico. PCD
manufactures paperboard and containerboard. Its sales exceed MXN 1
billion.
More information can be found at www.pcd.com.mx.