Black Box receivab1es securitisation

The securitisation of receivables (originated by Black Box’s subsidiaries in the United States and United Kingdom), was used to refinance the credit facility provided to Black Box on its acquisition by AGC in 2019.

The securitisation comprises multiple tranches and allows up to $90 million in senior funding by Fifth Third Bank, National Association. In addition, Greensill has provided a $15 million subordinated facility to further enhance the company’s liquidity. The securitisation achieved accounting derecognition under IFRS and US GAAP. [ABL Adviser]