Cases & Deals

JohnsonDiversey closes €50 million trade receivables securitization facility

Clients JohnsonDiversey Inc.

Jones Day represented JohnsonDiversey Holdings, Inc., a leading provider of commercial cleaning, sanitation and hygiene products, in connection with the €50 million (US$63.4 million) trade receivables securitization facility that will provide cash proceeds through the ongoing purchase of receivables from French, Spanish, and English subsidiaries. Norddeutsche Landesbank Girozentrale's ("NORD/LB") commercial paper conduit, Hannover Funding Company LLC, funded the transaction; NORD/LB's Asset Backed Finance Group structured the transaction for Hannover Funding; and Finacity is serving as ongoing Administrator.