Kongsberg Automotive enhances its financial capabilities by an additional “Receivables Securitization” facility
We have today, September 25[th], entered into an agreement with NORD/LB and Finacity Corporation (“Finacity”) to provide to Kongsberg Automotive Group a committed 60 Million EUR facility with a three years tenure, intended to take effect on October 19[th], 2020. The securitization program will finance trade receivables originated by the Group’s businesses in the US, Canada, Poland and Slovakia, with the option for French receivables to be added in the future. This complements our liquidity improvement projects and provides to us very efficient and flexible additional funding on top of