Finacity Corp. and Norddeutsche Landesbank Girozentrale (NORD/LB) have facilitated the
closing of a European trade receivables securitization for JohnsonDiversey.
The funding agreement will offer JohnsonDiversey cash proceeds of up to €50 million through the ongoing purchase of receivables from French, Spanish and U.K subsidiaries. NORD/LB’s commercial paper conduit, Hannover Funding Co. will fund the transaction. It was NORD/LB’s asset-backed finance group that structured the deal for Hannover Funding. Finacity provided analytical and structuring support and serves as ongoing administrator.
“NORD/LB is delighted to have partnered with Finacity to provide JohnsonDiversey with
increased liquidity from this transaction,” said Omar Bolli, head of securitization at NORD/LB.
“Finacity is very pleased to implement a European receivable securitization for JohnsonDiversey,” said Adrian Katz, Finacity’s chief executive officer.
JohnsonDiversey is a global provider of commercial cleaning and hygiene products and
solutions for food safety, food and beverage hygiene, floor care, housekeeping and room care,
laundry, hand hygiene and industrial cleaning.