Finacity and NORD/LB Announce an Increase to $125 Million of a Trade Receivable Securitization Facility for The Manitowoc Company
NEW YORK, NY--(Marketwire - September 30, 2009) - Finacity Corporation ("Finacity") announced
today that, together with Norddeutsche Landesbank Girozentrale ("NORD/LB"),
it has facilitated the successful increase to $125 million of a trade
receivables securitization for The Manitowoc Company, Inc. (NYSE: MTW).
NORD/LB's commercial paper conduit, Hannover Funding Company LLC, will fund
the transaction.
About The Manitowoc Company, Inc.
The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer
with over 100 manufacturing and service facilities in 27 countries. It is
recognized as one of the world's largest providers of lifting equipment for
the global construction industry, including lattice-boom cranes, tower
cranes, mobile telescopic cranes, and boom trucks. Manitowoc also is one of
the world's leading innovators and manufacturers of commercial foodservice
equipment serving the ice, beverage, refrigeration, food prep, and cooking
needs of restaurants, convenience stores, hotels, healthcare, and
institutional applications. More information can be found at
www.manitowoc.com.
About Finacity Corporation
Finacity Corporation specializes in the structuring and provision of
efficient capital markets receivables funding programs, state-of-the-art
servicing, and bond administration. Finacity is located in the USA and
Europe. For more information about Finacity, please visit www.finacity.com.
About NORD/LB
NORD/LB ranks as number 50 among the world's banks. From its securitization
base in New York, the bank specializes in securitization and other
structured transactions for its U.S. and European corporate clients. More
information on NORD/LB can be found at www.nordlb.com. For securitization
information, call 212-812-6946.
Contact Information: For more information on this transaction please contact:
Adrian Katz
Finacity Corporation
tel 203-428-3540
Edward Weber
NORD/LB
tel 212-812-6949