Finacity Facilitates $25 Million of Trade Receivable Funding for CME Wire & Cable Inc., a subsidiary of Xignux, S.A. de C.V.
Sep, 2016 by FinacityStamford, CT – September 30, 2016 – Finacity Corporation (“Finacity”) announced that it has facilitated a $25 million US trade receivable funding program for CME Wire & Cable, Inc. (“CME”), a Georgia based multinational supplier of electrical wire, magnet wire and cable. CME is a subsidiary of Mexican industrial group Xignux, S.A. de C.V. (“Xignux”).
About Xignux
Xignux (www.xignux.com) is one of Mexico’s largest industrial groups, and through its four main subsidiaries produces and markets cable and electrical conductors, electrical transformers (JV with General Electric), cold meals and snacks, and provides engineering, construction and maintenance services for electrical and industrial installations. Xignux is based in Monterrey, Mexico, with over $2 billion in sales and with a presence in more than 7 countries.
About Finacity
Finacity 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 $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 165 countries. For further information, please visit www.finacity.com.
For more information on this transaction, please contact:
Finacity
Antonio Villa
Tel: +1 203 428 3510
Email: avilla@finacity.com
Jim Leonard
Tel: +1 203 428 3584
Email: jleonard@finacity.com
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