DLA Piper has advised The Vita Group on the launch of a three-year, EUR 81.5 million trade receivables securitization program. External funding was provided by Santander Corporate and Investment Banking and Finacity Corporation, with retained funding from Vita entities.
The Vita Group is a provider of flexible foam solutions in Europe. According to DLA Piper, the new program refinances Vita’s previous securitization and includes a EUR 80 million senior funding commitment from Santander CIB and EUR 1.5 million in junior funding by Finacity Asset Management. The facility is backed by receivables from Vita’s operations in ten European countries, including Poland, Romania, Hungary, Lithuania, and Slovakia.
DLA Piper did not respond to our inquiry on the matter.
