Finacity Corporation has successfully facilitated the upsize and extension of a trade receivables securitisation transaction for Vitro America, Vitro’s US-based subsidiary. The funding programme was rolled over for a fourth year and increased from US$40mn to US$50mn in funding availability. The programme is funded by an asset-backed commercial paper conduit sponsored by a leading European bank.
Mexico’s Vitro, SAB de CV, through its subsidiary companies, is one of the world’s leading glass producers. Vitro is a major participant in two principal businesses: flat glass and glass containers. Its subsidiaries serve multiple product markets, including construction and automotive glass; food and beverage, wine, liquor, cosmetic and pharmaceuticals glass containers.
Vitro also produces raw materials and capital goods for industrial use, which are vertically integrated in the Glass Containers business unit.