Randstad launches 125 million standby facility
Randstad launches 125 million standby facility for the securitization of accounts receivable
Randstad Holding nv, the worlds second largest HR services provider, announces that it has launched a standby facility with Fortis Commercial Finance, part of Fortis Bank Nederland.
The facility offers Randstad the opportunity to sell accounts receivable of its Belgian entities to Fortis Commercial Finance with a maximum of 125 million.
Randstad considers the facility as an insurance policy to be able to strengthen the balance sheet if needed. Randstad is entitled to activate the facility, which runs for at least 18 months, at any time.