Finacity Corporation (Finacity) announced that it has successfully launched an IFRS off-balance sheet trade receivables securitisation for Vitro, S.A.B. de C.V. (Vitro). The transaction allows for up to US$100m in funding of the senior tranche from a US based bank, as well as an initial US$1.2m investment from Finacity Asset Management in the intermediate subordinated note to achieve off-balance sheet treatment. The transaction includes the trade receivables originated by certain subsidiaries of Vitro in the United States of America, Mexico and Canada.
