More NewsElster Group Goes Live With @GlobalTrade Standby L/C Guarantee Issuance System

Elster Group Goes Live With @GlobalTrade Standby L/C Guarantee Issuance System

Elster Group, an electricity, gas and water measurement and control provider, has successfully implemented GlobalTrade Corporation’s (GTC) @GlobalTrade Standby L/C Guarantee Issuance System connecting Elster group treasury, business units and banks. Elster Group uses the system to monitor all its guarantee facilities, automate guarantee issuance workflow, and consolidate guarantee fee information and transactional data into a global data base.

“@GlobalTrade gives us the opportunity to efficiently issue and administrate our guarantees under the new credit facility as well as integrating corporate and further third party guarantees. In addition, the reporting tools allow us to quickly run required analysis for internal management reports and for the charge out to subsidiaries,” said Steffen Patzak, vice president, group treasury of Elster Group.

The system is offered and hosted by UniCredit Bank in Munich, which is one of the mandated lead arrangers (MLAs) of the guarantee facility syndication.

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

3m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

4m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

4m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

4m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

5m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

5m Mateo Graziosi