Under the arrangement, Deutsche Bank and SEB have stumped up the funding for the corporate's supply chain financing needs, enabling the company to extend its available credit capacity to suppliers by leveraging off the banks' balance sheets.

Geoff Pollak, vice president, purchasing, Electrolux, says: "Our FSC program provides suppliers with a low-cost source of funding by which they can convert their Electrolux receivables into cash through a true sale to Deutsche Bank."