OREANDA-NEWS. ROSBANK Factoring and NISSAN MANUFACTURING RUS signed the Factoring Agreement. The deal is structured with the participation of the Alliance Insurance Group. The amount of transaction is approximately RUB 12 bln, which is the largest factoring deal in Societe Generale history outside France.

Within the terms of the agreement ROSBANK Factoring will finance NISSAN under the assignment of receivables in respect of the dealers in different Russian regions. Under the terms of the agreement NISSAN receives the payment after the delivery without increase of account payables and with a decrease of account receivables. However dealers will pay under deliveries within payment terms granted by Nissan.

"Taking into account transaction amount, Rosbank provided us unique conditions in a very limited time-frame. Partnership with Rosbank and Societe Generale is quite strategic for us on the Russian market", said Evgeniy Notkin, CFO of NISSAN MANUFACTURING RUS.

"With the international, historic experience in factoring of Societe Generale group, RB Factoring considered since its creation non-recourse factoring to become a key product in Russia. Indeed, as an undisputable leader in non-recourse factoring over the past 5 years, RB Factoring has been demonstrating its capacity to deliver tailor-made solutions with a high quality of service. This new major transaction comforts RB Factoring in its early intuition of the emergence of non-recourse factoring for top corporate clients in Russia, confirms RB Factoring leading expertise, and underlines the high level of confidence between Nissan and Societe Generale international groups", noticed CEO of ROSBANK Factoring Jean-Pascal Peltier.