Finacity Facilitates MXN$525 Million IFRS Off-Balance Sheet Securitization for Valores Químicos, a subsidiary of CYDSA - Mexico
Oct, 2016 by FinacityStamford, CT – October 13, 2016 – Finacity Corporation (“Finacity”) announced that it has successfully launched an IFRS off-balance sheet trade receivables securitization for Valores Químicos, S.A. de C.V., a subsidiary of CYDSA, S.A.B. de C.V. [BMV: CYDSASA] (“CYDSA”). The transaction allows for up to MXN$525 million in funding of a senior tranche from two Mexican banks and an investment from Finacity Capital Management (“FCM”) in an intermediate subordinated note. The securitization has been assigned a local AAA rating by HR Ratings de México, S.A. de C.V. Finacity provided structuring and execution support and is responsible for ongoing program administration and reporting.
About CYDSA
CYDSA (www.cydsa.com, BMV: CYDSASA) is one of Mexico’s largest chemical companies, and through its subsidiaries produces and markets salt, caustic soda, chlorine and refrigerant gases. It also produces electricity and steam in its cogeneration business. CYDSA is based in Monterrey, Mexico, has 20 subsidiaries in 8 cities throughout the country, and exports its products to more than 20 countries.
About Finacity and FCM
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 approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in approximately 175 countries. For further information, please visit www.finacity.com. FCM is a funding vehicle dedicated to delivering access to securitization funding for companies with smaller receivables portfolios, together with selected investments in the junior tranches of larger securitization programs.
For more information on this transaction, please contact:
Finacity
Antonio Villa
Tel: +1 203 428 3510
Email: [email protected]