Finacity, a White Oak Company, Increases an IFRS Off-Balance Sheet Securitization by 50% to US$ 225 million for a Canadian company, a Joint Venture that includes a Brazilian Conglomerate
STAMFORD, Conn., Oct. 04, 2021 (GLOBE NEWSWIRE) -- Finacity Corporation, a White Oak Company, (“Finacity”) announced that it has successfully renewed and increased by 50% an IFRS off-balance sheet trade receivables securitization for a Canadian company and its subsidiaries, a joint venture that includes a Brazilian conglomerate. The transaction allows for up to $225 million in funding of the senior tranche, as well as a $4 million investment from Finacity Asset Management in the intermediate subordinated note. Finacity served as structuring agent coordinating the addition of new origination entities and the renewal process on behalf of the company. Finacity will continue to be responsible for ongoing program administration and reporting.
About Finacity, a White Oak Company
Finacity, a White Oak Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe, Latin America and Asia, Finacity conducts business throughout the world with obligors in 175 countries. Finacity, is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.
About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”), together with its financing affiliates, provides over twenty lending products to the market, including term, asset-based, and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed over $9 billion across its product lines, utilizing a disciplined investment process that focuses on delivering risk-adjusted investment returns to investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.
For more information on this transaction, please contact:
FINACITY CORPORATION,
a White Oak Company
Jayme Bulcão | Jair Martinez | |
Tel: +1 203 428 3527 | Tel: +1 203 428 3575 | |
[email protected] | [email protected] |
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BitGrid Unveils New Solutions of Intelligent Quantitative Trading
- Partners Value Split Corp. Announces 2023 Annual Results
- CGTN: China deepens reform and opening up, appeals to global investors
Create E-mail Alert Related Categories
Globe Newswire, Press ReleasesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!