Finacity renews US$152m trade receivables securitisation facility for VCNA
Finacity Corporation (Finacity) announced that it has successfully renewed the IFRS off-balance sheet trade receivables securitisation for Votorantim Cimentos North America Inc. (VCNA). The transaction allows for up to US$150m in funding of the senior tranche from Wells Fargo Capital Finance, part of Wells Fargo & Company, as well as US$2m investment from Finacity Capital Management (“FCM”) in the intermediate subordinated note. Finacity served as structuring agent coordinating the renewal process on behalf of the company. Finacity will continue to be responsible for ongoing program administration and reporting.
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Posted on Apr 3, 2019 Region: USA
securitisation securitisation
