Deutsche and SEB team on Electrolux supply chain finance
20 September 2011 | 6122 views | 0
Germany's Deutsche Bank has teamed up with SEB of Sweden to establish a financial supply chain (FSC) programme for mutual customer Electrolux.
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."