Finacity Facilitates the Expansion of an Existing Receivables Securitization Program for Swissport International AG
STAMFORD, Conn., June 07, 2023 (GLOBE NEWSWIRE) — Finacity Corporation (“Finacity”), a White Oak Global Advisors Company, has successfully closed an expansion of its $75 million IFRS off-balance sheet receivables securitization program for Swissport International AG (“Swissport”), headquartered in Opfikon, Switzerland. The expansion focuses on adding Swissport’s subsidiaries located in Australia. The program now provides liquidity to Swissport in the U.S. and Australia with funding in two currencies: USD and AUD. Finacity has provided origination, analytic and structuring support and serves as the ongoing Administrator and provider of reporting services for the program. Peter Zmidzinski, Swissport’s Group Treasurer, added, “We are very pleased with the outcome and to work with Finacity and advisors as we extend the securitization scope and further enhance the liquidity position of the group.”
About Swissport International Group
Swissport International AG is the leading global aviation services company providing airport ground, lounge hospitality and cargo handling services. In 2021, Swissport International AG provided best-in-class airport ground services for some 97 million airline passengers and handled roughly 5.1 million tons of air freight at over 120 air cargo centers worldwide. Swissport is active at 287 airports in 45 countries on six continents as of July 2022. Learn more about Swissport by visiting https://www.swissport.com.
About Finacity, a White Oak Global Advisors Company
Finacity, a White Oak Global Advisors Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual receivables volume of over US $150 billion. With resources in the USA, Europe, Latin America, and Asia. Finacity conducts business throughout the world with obligors in 175 countries. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing, and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.
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