Finacity, the receivables finance arranger, has launched a US$12mn trade receivables securitisation for Ercros, a Spain-based producer of chemicals.
The facility is funded by Finacity Capital Management (FCM), the company’s funding vehicle dedicated to delivering access to securitisation funding for companies with smaller receivables portfolios.
The deal provides a funding source for Ercros’ US dollar-denominated export receivables and complements an existing euro-denominated factoring programme.
Finacity served as the sole structurer and investor in the transaction and is responsible for ongoing programme administration and reporting.
Ercros manufactures and markets basic and intermediate chemicals, plastics and pharmaceuticals worldwide.