Finacity Facilitates an Amendment and Increase for the Accounts Receivable Securitization Program to $45 Million for Hyperion Materials & Technologies Inc.

STAMFORD, Conn., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Finacity Corporation ("Finacity"), a White Oak Company, today announced that it has facilitated an increase from $40 million to $45 million for the commitment capacity of the Accounts Receivable Securitization Program of Hyperion Materials & Technologies Inc. ("Hyperion"), headquartered in Worthington, Ohio. Finacity has also completed an amendment to the program which added three additional US entities and one additional European entity to the program. The program includes substantially all of Hyperion's US sales and a portion of Hyperion's European sales.

Andrew Serhal, Hyperion's VP, Tax and Treasury, stated: "Our AR program has served well as a low-cost mechanism to fund short term operational needs, and the amendments made have significantly improved overall efficiency of the program. We're very happy with the outcome and look forward to a strong ...