StoneCo Ltd. announced that it has obtained a commitment of US$467.5m in the form of a revolving securitisation facility from the United States International Development Finance Corporation (DFC), an agency of the United States government. The facility, which has a final maturity of seven years, and a six-month availability period, acquires accounts receivables due by over twenty different non-systemic important Brazilian financial institutions that are credit card issuers, on a non-recourse basis. It will further strengthen Stone's ability to offer prepayment of receivables to micro, small, and medium-sized enterprises (MSMEs), which use the solution to optimise cash flow, financial flexibility and improve management. The closing of the transaction is subject to customary conditions precedents.
