STAMFORD, Conn., Nov. 21, 2022 (GLOBE NEWSWIRE) -- Finacity Corporation, a White Oak Company, (“Finacity”) and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt AM Main, New York Branch (“DZ BANK”) announce that they have successfully upsized a trade receivables securitization for Nitron Group LLC (“Nitron”), a company headquartered in Greenwich, CT. The facility is collateralized by Nitron’s receivables for fertilizer distribution and importation services in Latin America, North America, Europe, and Africa.
Finacity serves as the Transaction Administrator and provided analytic and structuring support to DZ BANK which serves as the Agent for the transaction and funded the transaction via its ABCP conduit Autobahn Funding Company LLC.
Enzo Formato, the CFO of Nitron Group, commented: “The facility has been transformative for the business and has met our every expectation, so we are very excited to see it grow. We remain grateful to our partners, DZ Bank and Finacity, for their continued support and confidence in Nitron.”
About Nitron Group Corporation
Founded in 1982 and headquartered in Greenwich, CT, Nitron Group LLC is a leading global trader of chemical and agricultural fertilizers including urea, ammonium nitrate and sulfate, phosphates, and potash. Serving clients in over 65 countries, the company offers a wide variety of services focused on the distribution, importation and warehousing of chemical and agricultural fertilizers, enabling clients in Latin America, North America, Europe and Africa to receive a product which meets the legal, safety and environmental standards. For further information, please visit www.nitrongroup.com.
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.
About DZ BANK
DZ BANK is the second largest bank in Germany and acts as central bank for approximately 800 cooperative banks with over 8,500 branches in Germany. DZ BANK’s New York based Structured Finance Asset Securitization unit offers specialty lender finance, structured asset and accounts receivable financing solutions for a wide variety of clients and asset types throughout North America.
For more information on this transaction, please contact:
FINACITY CORPORATION, a White Oak Company
Tel: +1 (203) 428-3520
Structured Finance Asset Securitization
Tel: +1 (212) 745-1668