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Siemens launches ABS programme based on low-value receivables

SFS said ABS 'light' will provide up to 100% financing in advance in exchange for portfolios of receivables, which it will buy on a revolving basis. SFS said it would assume up to 100% of the default risk of the receivables, which would be carried on its own balance sheet.

Martin Hartge, head of sales for the new product, said many German companies were still reluctant to use receivable financing - "Wrongly so, because respected companies have long made sales of financial and trade receivables an integral part of their financing strategies.”

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