Contact Information: For more information on this transaction please contact: Carlos Gonzalez Finacity Corporation tel 203-428-3502 (USA)
Finacity Announces a MXN 300 Million Trade Receivable Securitization for Taenza, S.A. (Grupo Zapata)
| Source: Finacity
NEW YORK, NY--(Marketwire - November 2, 2009) - Finacity Corporation ("Finacity") announced
today that it has facilitated the successful closing of a Mexican trade
receivable securitization for Taenza, S.A. ("Grupo Zapata"). The issuance
provides Grupo Zapata cash proceeds of MXN 300 million over a two-year
period through the ongoing purchase of peso and
dollar-denominated receivables from five selling entities. The transaction
is registered with the CNBV and is rated mxAAA/hrAAA by Standard & Poor's
and HR Ratings respectively. Finacity served as Arranger, providing
analytic and structuring support and serves as ongoing Bond Administrator
and Master Servicer. Barclays Capital Casa de Bolsa, S.A. de C.V. and IXE
Casa de Bolsa, S.A. de C.V. placed the securitization issuance with
investors.
"Grupo Zapata is very pleased to have executed a creative and
cost-efficient securitization with the integral upfront and ongoing support
of Finacity. We believe this investment grade access to the capital
markets demonstrates support for the strengths of our business," said Cayo
Zapata, President at Grupo Zapata.
"Finacity is very pleased to implement a successful funding program for
Grupo Zapata in Mexico," said Adrian Katz, Finacity's Chief Executive
Officer.
About Taenza, S.A.
Grupo Zapata is a private Mexican corporate group that is largely family
owned under the umbrella of holding company Taenza, S.A. Established in
1926, the company developed into a leading Mexican producer and exporter of
containers, lids and other promotional products made of tinplate, plastic
and aluminum for the mass consumer markets.
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.