STAMFORD, CT--(Marketwired - Nov 28, 2016) - Finacity Corporation ("Finacity") and ING Belgium SA/NV announce that they have successfully launched a container shipping receivables securitization for Neptune Orient Lines ("NOL"), a Company Headquartered in Singapore and recently acquired by CMA CGM, allowing up to USD 350 million in funding.
Finacity and ING Belgium SA/NV acted jointly for the setup of the transaction: Finacity provided analytic and structuring support, and serves as the ongoing Transaction Administrator; ING Belgium SA/NV structured the transaction and it was funded via ING Bank NV, French Branch. Freshfields Bruckhaus Deringer LLP (Paris) acted as the transaction legal counsel and coordinated legal counsels in the US, Singapore and Luxembourg.
About CMA CGM CMA CGM, founded and led by Jacques R. Saadé, is a leading worldwide shipping group. Its 460 vessels call more than 420 ports in the world, on all 5 continents. In 2015, they carried 18 million* TEUs (twenty-foot equivalent units). CMA CGM has grown continuously, and has been constantly innovating to offer its clients new sea, land and logistics solutions. With a presence in 160 countries, through its 600 agencies network, the Group employs 29,000 people worldwide, including 2,400 in its headquarter in Marseilles. *Combined proforma CMA CGM and NOL
About NOL NOL is a global company with core business in container shipping, part of the CMA CGM Group. NOL delivers its quality services through its principal operating brand, APL. APL has been facilitating world trade since 1848. APL offers transportation for all shipment needs - from dry, climate-controlled, hazardous and oversized goods to special cargo. APL also offers shipping services in the world's major trade lanes - Trans-Pacific, Trans-Atlantic, Latin-America, Asia-Europe and Intra-Asia.
About Finacity 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 USD 100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in more than 175 countries. For further information, please visit www.finacity.com .
About ING Belgium ING Belgium SA/NV offers all customer segments, retail as well as private banking customers, small, medium-sized and large enterprises, a wide range of financial products and services via the distribution channel of their choice. ING Belgium SA/NV employs 8,282 people full time and is a subsidiary of ING Bank N.V. which offers services to 33 million individual, corporate and institutional customers in more than 40 countries in Europe, North America, Latin America, Asia and Australia.
About Freshfields Bruckhaus Deringer Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our lawyers deliver results worldwide through our own offices and alongside leading local firms.
For more information on this transaction, please contact: Finacity Charles Nahum +44 20 7935 3390 Email Contact ING Amador Malnero +32 2 547 36 44 Email Contact
