STAMFORD, Conn., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”), a White Oak Global Advisors Company, has successfully closed an upsize and expansion of its existing $75 million IFRS off-balance sheet receivables securitization program to $100 million for Swissport International AG (“Swissport”), headquartered in Opfikon, Switzerland. The expansion focuses on adding Swissport’s subsidiaries located in Switzerland. The program now provides liquidity to Swissport in the U.S., Australia, and Switzerland with funding in three currencies: USD, AUD, and CHF. Finacity has provided origination, analytic and structuring support and serves as the ongoing Administrator and provider of reporting services for the program.
Peter Zmidzinski, Swissport’s Group Treasurer, added, “Swissport’s liquidity position continues to be enhanced via support from its lender, supported by a strong team of advisors that are able to execute an increase in the program in an efficient manner.”
About Swissport International Group
Swissport International AG is the leading global aviation services company providing airport ground, lounge hospitality and cargo handling services. In 2022, Swissport International AG provided best-in-class airport ground services for some 186 million airline passengers and handled roughly 4.8 million tons of air freight at 117 air cargo centers worldwide. By the end of June 2023, Swissport was operating at 294 airports in 44 countries. 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 $200 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.
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