Finacity Corporation, a White Oak company, (Finacity) announced that it has successfully renewed and increased by 50% an IFRS off-balance sheet trade receivables securitisation for a Canadian company and its subsidiaries, a joint venture that includes a Brazilian conglomerate. The transaction allows for up to US$225m in funding of the senior tranche, as well as a US$4m 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.
