STAMFORD, Conn., March 29, 2017 (GLOBE NEWSWIRE) -- Trade Finance Magazine today awarded Finacity Corporation (“Finacity”) with a 2017 Deal of the Year Award for the Americas, related to a US$152 million IFRS off-balance sheet trade receivables securitization program that Finacity facilitated on behalf of Votoratim Cimentos N.A. (“VCNA”), a fully owned subsidiary of the Brazilian headquartered Votorantim Cimentos S.A. (“VCSA”).
“Finacity is deeply honored to have received this award and we will continue to strive to deliver the highest level of working capital financial solutions to our various global constituents,” said Jair Martinez, head of Latin American finance at Finacity.
“VCNA is very pleased and honored to be a part of this award. The innovative structure put in place with Finacity was in line with our objectives,” said John McCarthy, CFO of VCNA.
About Trade Finance Magazine
Trade Finance is a global publication concentrating exclusively on the international export finance market. Trade Finance has been providing its subscribers with deal updates and sector intelligence for 30 years, ensuring its customers never miss business critical market intelligence. The continually updated database of deal updates, market moves, deal data, market and sector analysis, and regulatory coverage provides its customers with high quality, independent information.
About VCNA
VCNA is the North-American subsidiary of international building materials supplier, Votorantim Cimentos, one of the ten largest providers of cement, concrete, aggregates and mortar in the world, and part of the Votorantim Group, one of Brazil's largest industrial conglomerates with a presence in more than 20 countries. VCNA oversees the Group's cement, ready mix concrete and aggregate operations in North America, which include, among others, St. Marys Cement Inc. (SMC), a leading manufacturer of cement, concrete and aggregates in the United States and Canada.
About Finacity
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. For further information, please visit www.finacity.com.