German Paper Merchants Set Up 100M Trade Receivable Facility
Papier Union GmbH and PMF Factoring GmbH, both part of the Inapa Group, a leading paper merchant group in Europe, have raised €100 million ($107.4 million) of capital via a trade receivables facility, according to a press release.
Finacity is joint arranger and provided analytic and structuring support on the transaction. It also serves as the transaction's administrator.
The facility is backed by receivables originated by the two German based paper merchants.
The Papier Union group is a service provider for the printing industry, supply partner for office supplies, offers packaging solutions as well as services as a system house for outdoor advertising and display.
PMF Factoring is one of the largest bank-independent factoring companies in Germany, concentrating on medium sized corporations. PMF Factoring began as a subsidiary of Papier Union, but has since become its own entity, contributing its own receivables into the combined securitization program.