Increase your liquidity
Asset securitisation offers you the option of on-going refinancing based on your own recoverable receivables. This opens up a very stable source of funding as a broadly-diversified portfolio of different borrowers is used as collateral, which renders the funding largely independent of the rating of the financed company. The result is a stable building block in your liquidity planning.

In addition, by selling assets it is possible to shorten the balance sheet and improve the corresponding balance sheet ratios. Your receivables are pooled to form a portfolio of at least EUR 10 million, which is usually sold on a revolving basis within the framework of a non-recourse, undisclosed sale of receivables to a special purpose entity (conduit).
Receivables-management remains in the hands of the customer, in other words the debtors are not informed of the sale. The special purpose vehicle finances the purchase of receivables by issuing short-term, asset-backed securities (ABCP) in the capital market or as an alternative with a credit line from DZ BANK.

Benefit from our experience
Since 1999 the DZ BANK Specialist Team has carried out more than 100 securitisation transactions. Our claim is to deliver permanent added value to the customer with a transaction structure that is tailored to a specific situation. Of advantage here is the flexibility of receivables financing. For example, it is possible to take account of seasonal fluctuations in the financing volume, receivables that are denominated in different currencies as well as different sellers of receivables within a group. Portfolios with only a few, but large buyers can also be refinanced. What is important besides achieving typical goals – such as, for example, reducing financing costs – is to create as low as possible a work load in your company’s finance department. A defined interface here allows rapid and convenient handling of the sales of receivables. If any questions arise, every customer has a specific contact person in all matters relating to asset securitisation.

Not only can securitisations be used meaningfully in a “normal business cycle,” they also represent a stable financing instrument when things get difficult – our long-standing customers will confirm that for you.