Finacity Facilitates a USD 40 Million Receivables Securitization Program for Hyperion Materials & Technologies Inc.

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Dec 14, 2020, 08:00 ET

STAMFORD, Conn., Dec. 14, 2020 /PRNewswire/ -- Finacity Corporation ("Finacity"), part of the Greensill family of companies, has successfully launched a USD 40 million receivables securitization program for Hyperion Materials & Technologies, headquartered in Worthington, Ohio. The program includes substantially all of Hyperion's US sales and a portion of Hyperion's European sales. Finacity provided origination, analytic and structuring support, and serves as the ongoing Administrator.

About Hyperion Materials and Technologies Inc.
Hyperion Materials & Technologies ("HMT") is a global leader in advanced materials with decades of experience developing and manufacturing tungsten carbide powders, cemented carbide, industrial diamond, and cubic boron nitride products. HMT was formed in 2014 by Sandvik Hard Materials and Sandvik Diamond Innovations, but in 2017, Sandvik announced its disinvestment to KKR & Co. Inc. which closed in July 2018. HMT has a global footprint with ten production sites on four continents.

HMT also operates a materials analysis laboratory in Worthington, Ohio that offers material characterization and analysis in diamond and polycrystalline diamond (PCD), cubic boron nitride (CBN) and polycrystalline (PCBN) and related materials. It offers carbide recycling programs in which the Company purchases used cemented carbide, solid carbide, wolfram carbide tools and cutters to convert raw materials for future products. The Company serves the aerospace, automotive, chemical, electronics, food and beverage, general manufacturing, hygiene, medical, mining, oil and gas, steel production and toolmaking industries.

For further information please visit: www.hyperionmt.com

About Finacity
Finacity, a member of the Greensill family of companies, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US$100 billion. With resources in the US, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries.

For further information, please visit www.finacity.com

About Greensill
Reformers at heart, Greensill challenges the status quo by working to make global finance fairer and levelling the playing field for all businesses and people alike. The Company unlocks capital so the world can put it to work.

Founded in 2011, Greensill is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Bogota, Shenzhen, Abu Dhabi, Johannesburg, Sydney, Warrington and Bundaberg. Greensill provides innovative financing solutions to customers across Europe, North America, Latin America, Middle East, Africa, and Asia – injecting more than US$143 billion of financing in 2019 to more than 8 million customers and suppliers across more than 175 countries.