STAMFORD, Conn., Aug. 11, 2020 /PRNewswire/ -- Finacity
Corporation ("Finacity"), a member of the Greensill family of
companies, announces the August 2020
closing of a trade receivables securitization program for Public
Power Corporation S.A. [ATHEX: PPC] ("PPC"), the largest Greek
electricity generator and the principal supplier of electricity in
the country. The securitization program finances consumer and
corporate receivables originated by PPC in Greece.
The securitization program will allow PPC up to EUR 200 million in senior funding to further
enhance the company's liquidity position.
Finacity provided analytic and structuring support and will
serve as the ongoing transaction administrator.
The program is one of many deals closed since Finacity joined
Greensill in June 2019, adding
Finacity's world leading receivables securitization capabilities to
Greensill's market leading financing capabilities for all aspects
of working capital finance.
About Public Power Corporation
Public Power
Corporation, a Greek State-controlled entity, is the leading player
in the Greek energy market. PPC supplies power to approximately 6.3
million customers throughout Greece and is the largest power generation
company in the country. The company currently holds about 66% of
the Greek energy market share. PPC was established in 1950 and has
its headquarters based out of Athens,
Greece. The company has been a publicly listed entity since
December 2001, with a market
capitalization of EUR 858,86 million
as of Aug 10, 2020. To learn more
about Public Power Corporation, please visit
https://www.dei.gr/en.
About Finacity
Finacity, a member of the Greensill
family of companies, 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
$100 billion. With resources in the
USA, Europe and Latin
America, Finacity conducts business throughout the world
with obligors in 175 countries. For further information, please
visit www.finacity.com.
About Greensill
Reformers at heart, Greensill
challenges the status quo by working to make global finance fairer
and levelling the playing field for all businesses and people
alike. The company unlocks capital so the world can put it to
work.
Founded in 2011, Greensill is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Bogota, Shenzhen, Abu
Dhabi, Johannesburg,
Sydney, Warrington and Bundaberg. Greensill provides
innovative financing solutions to customers across Europe, North
America, Latin America,
Middle East, Africa, and Asia – injecting more than $143 billion of financing in 2019 to more than 8
million customers and suppliers across more than 175
countries.
For more information on this transaction, please contact:
Finacity
Corporation
Jason
Kim
USA Tel: +1 (203)
428-3520
jkim@finacity.com
View original
content:http://www.prnewswire.com/news-releases/finacity-arranges-a-eur-200-million-receivables-securitization-facility-for-the-greek-state-controlled-public-power-corporation-sa-301110189.html
SOURCE Finacity Corporation