Finacity Facilitates the Renewal of USD 550 Million Global Freight Receivables Securitization for Germany-Headquartered Hapag-Lloyd AG
STAMFORD, Conn., Jan. 03, 2023 (GLOBE NEWSWIRE) -- Finacity Corporation, a White Oak Company, (“Finacity”) announces today that they have successfully renewed and extended an existing receivables securitization for another 3 years with Hapag-Lloyd AG (“Hapag-Lloyd”) (FWB: HLAG), a company headquartered in Hamburg, Germany. The facility is collateralized by Hapag-Lloyd’s global freight receivables. Finacity serves as the ongoing Administrator, providing analytic, reporting and structuring support, as well as the Back-up Servicer for the multi-bank facility.
With a fleet of 252 modern container ships and a total transport capacity of 1.8 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. The Company has around 14,500 employees and more than 400 offices in 137 countries. Hapag-Lloyd has a container capacity of 3.0 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 123 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.
About Finacity, a White Oak Company
Finacity, a White Oak Company, 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 $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.
For more information on this transaction, please contact:
FINACITY CORPORATION, a White Oak Company
Tel: +1 (203) 428-3520