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Finacity Corporation (Finacity), a White Oak company, announced today that it has successfully renewed and upsized its existing IFRS off-balance sheet trade receivables securitisation for Votorantim Cimentos North America Inc. (VCNA).The transaction allows for up to US$250m in funding of the senior tranche through the securitisation of VCNA’s U.S. and Canadian receivables. Finacity served as structuring agent and coordinating the renewal process on behalf of the company. Finacity serves as the ongoing Administrator and provider of reporting services for the program.
05/04/2024
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Optimum Finance has appointed Ross Stephenson as Senior Relationship Manager (RM) to further drive new business growth and provide support to an experienced and growing relationship management team. Ross joins the team with almost 20 years’ experience in financial services, primarily in invoice finance and including four years in corporate banking with the Royal Bank of Scotland and Barclays. A former serviceman, Ross also completed a six-month NATO peacekeeping tour of Kosovo.
05/04/2024
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The International Accounting Standards Board (IASB) has recently published for public comment the Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard, which supplements the exposure draft published in September 2022.
04/04/2024
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Synovus has launched Accelerate™ Pay, a new payment solution that enables commercial banking clients to initiate account payable payments in several different payment types while minimizing the use of checks. The solution offers payees the freedom to choose how they want to get paid, with check payments and e-checks still an option.
04/04/2024
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Introducing the newest government-backed finance initiative, the Recovery Scheme (RLS), which aims to assist small and medium businesses in navigating the complexities of today's challenging economy. This initiative replaces CBILS and the Bounce Back Loan Scheme (BBLS), and its primary objective is to provide businesses with simplified access to finance.Key features of the Recovery Loan Scheme:
04/04/2024
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A new report1 revealing the latest trends and future predictions in UK lending and borrowing has been launched by Lenvi, the leading provider of lending software and solutions.The 2024 borrowing report is the 10th released by Lenvi, the firm which powers lending technology for the likes of Barclays, Santander, Metro Bank and Admiral, after launching its first report in 20132.
04/04/2024
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The International Factoring Association (IFA) announced that Thirdmark Capital has been named a Preferred Ally Member. IFA Ally Membership is open to companies that deliver a diverse range of products, services, and solutions to factoring companies and contribute to the overall prosperity and advancement of the industry. IFA Preferred Ally Members surpass the typical Ally Member by providing discounts or specialised services exclusively for IFA members.
04/04/2024
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U.S. Bank today announced that it has teamed up with Levantor Capital to expand flexible working capital financing options for U.S. Bank clients.U.S. Bank offers a wide range of risk management and financing solutions to help firms improve their working capital along supply chains. In recent years, firms’ working capital needs have expanded in order to manage growing supplier networks across multiple jurisdictions, improve supplier resiliency and sales efficiencies.
04/04/2024
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Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp, announced today that their New York City commercial banking team closed a US$150m senior revolving credit facility for a premier New York - based finance company. The three-year facility includes a US$40m accordion feature. The recipient of the loan provides accounts receivable and factoring services. Valley is the Administrative Agent and Sole Bookrunner for the deal. The deal closed in conjunction with Valley’s syndications team which supports the bank nationwide.
03/04/2024
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Nippon Export Investment Insurance (NEXI), the Japanese export credit agency, has signed a reinsurance framework agreement (Agreement) with ECGC Limited (ECGC), the India’s export agency.The Agreement was signed between Mr. Sristiraj Ambastha (Chairman-cum-Managing Director) and Mr. Kazuki Hondo (Managing Executive Officer, Member of Board) at ECGC Headquarters in Mumbai, India on 29th March 2024.
03/04/2024
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nFusion Capital announced that Tree Buckingham has joined their team as EVP Head of Asset Based Lending (ABL). Buckingham is responsible for spearheading the strategic expansion of the ABL division. Demonstrating steadfast leadership and a commitment to client satisfaction, she will oversee strategic initiatives, underwriting portfolio credit management, and cultivate robust client and referral relationships while fostering a culture of excellence within the ABL team. She is based in nFusion Capital’s Austin, Texas headquarters.
03/04/2024
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Finyoz, a German specialised platform that brings together investors and companies to facilitate supply chain finance, has partnered with Currencycloud, a Singaporean multi-currency service provider.
03/04/2024
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Sabre Corporation ("Sabre" or the "Company"), a leading technology provider to the global travel industry, today announced that its indirect subsidiary, Sabre Securitization LLC, has increased the overall size of its existing accounts receivable securitisation facility (the "AR Facility") from US$200m to US$235m and extended its maturity date to March 2027.
02/04/2024
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The European Bank for Reconstruction and Development (EBRD) is providing a €10m unfunded portfolio risk-sharing instrument to Ukreximbank, the State Export-Import Bank of Ukraine, to unlock €40m of new financing for the private sector amid the ongoing war in the country.
02/04/2024
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Citi, a financial institution with a 62-year presence in the Dominican Republic, has structured two loans to facilitate local trade and working capital activities under Citi's Social Finance strategy. The loans, provided to Banco Popular Dominicano and Banco Santa Cruz, aim to offer working capital financing solutions that support the sustainable growth of small and medium-sized enterprises in the country.
02/04/2024
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