LiquidX Completes First Securitization Facility: USD $125 Million Receivables Portfolio Transaction with NORD/LB Serving as Agent and Funder
NEW YORK, Jan. 20, 2022 (GLOBE NEWSWIRE) — LiquidX, the global technology solutions provider for working capital, trade finance, and trade credit insurance, has expanded its technology offering to include reporting capabilities for securitization facilities. LiquidX sourced and facilitated a USD $125 million accounts receivable (A/R) finance program for a USD $20 billion company in the Technology Media and Telecom (TMT) sector. The structure achieved true sale recognition through the securitization of the company’s portfolio of 3,000+ customers. NORD/LB acted as the agent and arranger, and LiquidX served as reporting agent.
“LiquidX’s team and technology delivered exactly what we were looking for in this transaction,” said Ed Weber, Managing Director and Head of Asset Backed Finance at NORD/LB. “We were very impressed with their speed, flexibility, and ability to deliver the robust reporting required for this facility.”
“We are pleased to facilitate this transaction, which improves our client’s liquidity position and advances our vision of building the most complete digital solution for trade financing,” said Jim Toffey, CEO of LiquidX. “No other fintech can handle diverse and complex structures for A/R finance, inventory finance, supply chain finance, and other trade finance transactions in one solution that includes advanced digitization, automation, and reporting functionality.”
The automated reporting infrastructure on the LiquidX platform lowers the cost of administratively complex and expensive transactions for both corporations and financial institutions. The LiquidX platform ingests files in any format and uses machine learning and distributed ledger technology to automate and validate working capital assets throughout their lifecycle. All participants are connected in one digital environment, allowing for transparent visibility, faster transaction processing, and comprehensive data gathering.
About LiquidX
LiquidX is a global technology company that enables finance professionals to transact faster, smarter, and cheaper by digitizing and automating their trade finance and working capital management. Headquartered in New York with offices in Boston, London, and Singapore, LiquidX delivers the industry-leading ecosystem for working capital optimization to its diverse network of global participants including corporations, banks, institutional investors, and insurance providers. LiquidX incorporates blockchain technology and machine learning analytics to greatly enhance transparency, reporting, and forecasting across financial ecosystems. To learn more about our next-generation solutions, please visit liquidx.com.
Media Contacts:
Sue Hinton
LiquidX
[email protected]
+1 917-362-4518
Ed Weber
NORD/LB, Head of Asset Backed Finance
[email protected]
+1 212 812 6949
