CHC Helicopter Corporation upsizes receivables securitization
CHC Helicopter has increased an existing receivables securitization with Nord LB from $55 million to $75 million. The helicopter operator has sold future cashflows into a NordLB commercial paper conduit.
Finacity Corporation, a specialist securitization boutique, arranged the deal.
The original facility used European receivables it now also includes Australian cashflows.
Financity arranged the first securitization in 2009 selling $40 million in recievables to NordLB’s Hannover Funding Company LLC commercial paper conduit. In February 1, 2010 the facility was raised to $55 million.