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.