Sep 18, 2012. /Lesprom Network/. Sonae Industria, SGPS SA announced that, together with some of its indirect affiliates, has entered into a trade receivables securitisation transaction with ING Belgium NV/SA on the sale of trade receivables owned by such affiliates.
This transaction, organized in collaboration with Finacity Corporation, has a maximum amount of Euro 100 million, and includes trade receivables of affiliates in Portugal, Spain, France, England, Germany and Netherlands.
This transaction will replace another securitisation, initiated in 2004, ensuring continued access to efficient funding against the group’s trade receivables portfolio.
Sonae Indústria is one of the largest wood based panels producers in the world. The product range includes: particleboard; MDF (Medium Density Fibreboard); hardboard; OSB (Oriented Strand Board).