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May 2012

Growing demand for Hybrid Receivables Financing (HRF) and strengthening of the team

Global Supply Chain Finance Ltd. (GSCF) is experiencing a strong momentum in terms of Hybrid Receivables Financing (HRF) programs, having activated several transactions for IT Distributors in Scandinavia, the Baltic countries, Iberia and Turkey with credit limits of $ 300 million over the last months. This particular type of Supply Chain Finance program enables the extension of terms to Distributors via confirmed Payables related to their trades with selected IT Vendors. The key advantage is that the Vendor does not sell its Receivables to a Financial Institution based on the terms of a Receivables Purchase Agreement, but it is the Distributor that individually enters into a Trade Finance obligation with the GSCF program Funder. Although the Vendor is not a direct party to these programs, it strongly benefits from this innovative Distribution Financing solution which can be implemented faster than a program based on the sale of Receivables.

In order to handle the increasing demand for HRF programs, GSCF has hired Alberto Cocco, former Hewlett Packard Credit Director for EMEA, as Senior Relationship Manager overlooking the set-up of new transactions. Alberto has vast experience in the IT sector, having worked with Hewlett Packard for over 30 years.

Kendall Stevens, CEO of GSCF commented: “I am personally very pleased that Alberto Cocco has joined our team. Alberto is a very knowledgeable professional, who knows the characteristics of the IT supply chain inside out. He understands the needs of IT Distributors and the important benefits that HRF programs generate to both Distributors and Vendors. We trust that with his valuable contribution we will be not only able to cope with the increasing demand for HRF programs that we have at present, but also prepare for the future needs within SCF. At GSCF we have the habit of preparing the path for future developments, most of which we invent”.

To learn more about GSCF Group, please contact us.