Finacity Announces the Increase to $300 Million of a Trade Receivables Securitization Facility for Ferroglobe, PLC
STAMFORD, Conn., Sept. 24, 2018 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”) announces that it has facilitated the successful increase to $300 million of an existing trade receivables securitization for Ferroglobe, PLC (“Ferroglobe”). The increase was primarily the result of organic growth under the existing facility.
About Ferroglobe, PLCFerroglobe PLC (“Ferroglobe”) was established in London, England in 2015, as a result of a merger between Globe Specialty Metals and FerroAtlántica. Through the merger, Ferroglobe is uniquely positioned to leverage their strong position.
Ferroglobe is a supplier of silicon metal, silicon-based specialty alloys, and ferroalloys. The company is the largest producer of silicon metal in North America and is one of the largest producers of a wide variety of metal alloys and other metallic products in the world. Some of Ferroglobe customers’ industries include chemical silicon, aluminum and steel manufacturers, producers of photovoltaic solar cells and computer chips, the auto industry, ductile iron foundries, concrete and building material producers.
Ferroglobe is organized into several business areas (Electrometallurgy / Mining / Energy / Solar Photovoltaic Technologies) and employs over 4,500 people across 5 continents in Spain, United States, France, Canada, South Africa, Argentina, Venezuela, and China.
About FinacityFinacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. For further information, please visit www.finacity.com.
For more information on this transaction, please contact:
Finacity CorporationPhilip NuelleUSA Tel : 1 (203) 428-3546 firstname.lastname@example.org