GLOW ANNOUNCES AN $800MM TELCO DEVICE RECEIVABLES TRADE
Miami, 29th August 2024
GLOW ANNOUNCES AN $800MM TELCO DEVICE RECEIVABLES TRADE.
Glow is pleased to announce the execution today of a US Telco phone instalment plan transaction, with underlying collateral totaling approximately $800mm. Glow is facilitating this financing structure to secure off-balance sheet treatment for the Top 3 US Telco, at extremely low cost of funds and high capital efficiency.We anticipate additional off balance sheet trades will occur throughout the year/next.While Glow’s core business is SaaS-based software delivered through its three dynamic digital platforms (i.e. device financing, insurance and trade-in/upgrade), we also offer various Managed Services.This deal represents our high finance, off-balance sheet financing managed service, which is compelling for Telcos and banking partners in multiple geographies.
Glow has created certain phone financing structures that are differentiated and advanced, allowing Telco clients to secure significant financial benefit, when they have often struggled to do so in the past. As such Glow has several deals pending with Telcos across three continents helping improve financial statements and increase financial flexibility.
More to come. Do More, Grow More, Glow More
