Finacity upsizes Sanfer receivables securitisation to MXN 1.5bn

Finacity has expanded Laboratorios Sanfer’s trade receivables securitisation programme to MXN 1.5bn, giving the Mexican pharmaceutical group additional liquidity to support growth across Latin America.

The facility has been increased by 58%, from MXN 950mn to MXN 1.5bn, and is funded by a leading Mexican bank. The programme covers the majority of Sanfer’s domestic trade receivables, with Finacity acting as structuring agent and continuing to manage programme administration and reporting.

Sanfer is Mexico’s largest private-market pharmaceutical company and operates in 26 countries across Latin America. The expanded facility gives the business more working capital capacity as it supports production, distribution and regional expansion.

Receivables securitisation allows companies to release cash from trade receivables by financing portfolios of customer invoices. For companies with large and diversified debtor books, the structure can offer a scalable alternative to conventional borrowing.

The deal also shows the continued role of bank-funded receivables programmes in Latin America, where larger corporates are looking for more efficient capital markets-style funding structures to support regional growth.

Antonio Villa, Managing Director of Finacity, said the upsizing reflects Sanfer’s credit quality and the strength of its receivables portfolio. Sanfer Treasury Director Alberto Hachmesiter said the structure had helped the company optimise working capital and support expansion across the region.

For receivables finance markets, the transaction is a useful example of securitisation being used not only as a balance sheet tool, but as growth finance for a regional operating business.