STAMFORD, Conn., Jan. 18, 2023 (GLOBE NEWSWIRE) — Finacity Corporation, a White Oak Global Advisors Company, has successfully facilitated a $75 million IFRS off-balance sheet receivables securitization program for Swissport International AG, headquartered in Opfikon, Canton of Zurich, Switzerland. The program focuses on Swissport’s subsidiaries located in the United States. Finacity has provided origination, analytic and structuring support and serves as the ongoing Administrator and provider of reporting services for the program.
Group Treasurer of Swissport International AG, Peter Zmidzinski, commented on the program, saying, “We are very pleased to be able to execute in a timely and efficient manner thanks to our US team and external advisers. Together with the Group’s refinancing in September 2022, we have secured additional liquidity to support the continuing operational ramp up and growth plans.”
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.wofinacity.com.