Finacity, DZ Bank co-structure Volt’s receivables securitisation
Receivables financing firm Finacity and Germany’s DZ bank have facilitated a trade receivables securitisation for Volt Information Sciences, a New York-based staffing services company.
The two-year facility, supported by Volt’s US receivables, allows for up to US$115mn in funding with a US$35mn sublimit for letters of credit.
Finacity originated the transaction, provided analytic and structuring support, and serves as the ongoing transaction administrator. DZ Bank co-structured the facility and serves as the ongoing agent for the transaction, which was funded via Autobahn Funding, a multi-seller asset-backed commercial paper conduit sponsored by DZ Bank.
DZ Bank’s New York-based structured finance asset securitisation unit offers specialty lender finance, structured asset and accounts receivable financing solutions for a wide variety of clients and asset types throughout North America.take me back