Finacity Corporation, a firm specialising in the capital markets receivables funding programmes, has extended an US$150mn trade receivables securitisation transaction for one of its clients. This funding programme is now in its sixth year, and includes receivables from obligors in Asia, North America and Latin America.

It is being funded by a facility structured as an asset-backed commercial paper conduit sponsored by Euler Hermes, who provides credit and political risk insurance for the underlying obligor receivables purchased.

"The continuation of this program clearly demonstrates that Finacity's offering, in conjunction with its partner Euler Hermes ACI, is providing a valuable blend of efficient funding and risk mitigation for our client,” comments Adrian Katz, CEO of Finacity.