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Treasury Services re-designs the cash management infrastructure.
Because of the growth of the company, adjustments in the Treasury infrastructure were needed. As the corporate has an enormous volume of transactions moving over their bank accounts, a standard pooling structure would not bring them the optimal benefits. After a thorough analysis Treasury Services developed a correspondent bank cash management network, which resulted in the reduction of banks to a core banking group and eliminating hundreds of bank accounts. Their cash management infrastructure now belongs to one of the most advanced structures around the world. The new cash management structure has collected a very significant amount of ”trapped cash” for debt reduction and the costs for transactional banking were reduced significantly. Apart from the significant savings in the cash management area, a core banking group was establised, which also optimised the corporate finance function. A securitisation program was set up and a senior finance facility was established. The group now has more credit lines at reduced spreads and with standard covenants.