Finacity Facilitates the Addition of UK Entities to USD $115 Million Receivables Securitization for Volt Information Sciences, Inc. (NYSE:VISI)
VOLT INFORMATION SCIENCES INC (VISI)
NASDAQ:AMEX Investor Relations:
investor.volt.com
Company Research
Source: GlobeNewswire
STAMFORD, Conn., July 24, 2019 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”), a member of the Greensill family of companies, and DZ Bank AG Deutsche Zentral-Genossenschaftsbank (“DZ Bank”) announces the addition of Volt Information Sciences, Inc. (“Volt”) United Kingdom subsidiaries as sellers of receivables to Volt’s existing trade receivables securitization. The 2-year facility supported by Volt’s US and UK receivables allows for up to USD $115 million in funding with a $35 million sublimit for letters of credit. Finacity provided analytic and structuring support for the addition of the UK entities, as well as serving as the ongoing Transaction Administrator. DZ Bank serves as the ongoing Agent for the transaction, which is funded via Autobahn Funding (DZ Bank sponsored ABCP conduit). The program enhancement is one of a number of deals closed since Finacity joined Greensill in June of 2019, adding Finacity’s world leading receivables securitization capabilit
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