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Tuesday, 23rd April 2024
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First corporate securitisation on the horizon Back  
Jefferson Smurfit, the Irish paper and packaging company, told FINANCE that it is currently considering an asset securitisation, in what would be the first corporate securitisation by an Irish company.
According to a report in Structured Finance International, the bi-monthly structured finance and securitisation magazine, the deal is well advanced, and should hit the market within the next few months. It will involve €280 million of receivables from across Belgium, France, Spain, England and the Netherlands originated by over 20 different entities. Trade receivables are unsecured obligations generated when one business sells another goods or services. Securitisation of such receivables has grown significantly over the past number of years. eircom, the telecoms operator, which went public in March in a €1.4 billion flotation, also considered an asset securitisation last year, but decided against it in the end.

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