Nordea’s Viking Adds $117 Mln Trade Receivable Deal
February 24, 2010
Viking Asset Securitization, a partially supported, multiseller ABCP conduit sponsored by Nordea Bank AB, has added a €87 million ($117 million) trade receivable transaction to its portfolio.
The receivables are originated by eligible suppliers to a Danish communications solutions company.
The transaction is fully supported by a liquidity facility provided by Nordea Bank. This means that commercial paper investors are not exposed to any credit risk on the underlying asset.
Viking has allocated 5% credit enhancement for this transaction in the form of a standby letter of credit.
With this addition, Viking is authorized to issue up to €1.4 billion of ABCP.
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