STAMFORD, Conn., April 05, 2024 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”), a White Oak Company, announced today that it has successfully renewed and upsized its existing IFRS off-balance sheet trade receivables securitization for Votorantim Cimentos North America Inc. (“VCNA”). The transaction allows for up to $250 million in funding of the senior tranche through the securitization 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.
About Votorantim Cimentos
VCNA is the North American subsidiary of Votorantim Cimentos. Votorantim Cimentos is one of the largest global building materials company with more than 57 million tons of installed capacity and over 13,000 employees. Its building materials portfolio includes not only cements, but also concretes, mortars and aggregates. Founded in 1936 in Brazil, the company also operates in the areas of agricultural inputs, waste management and co-processing. Votorantim Cimentos’ sites are strategically located in proximity to the most important growing consumer markets in 10 countries, in addition to Brazil: Argentina, Bolivia, Canada, Luxembourg, Morocco, Spain, Tunisia, Turkey, United States and Uruguay. For further information, please visit www.votorantimcimentos.com
About Finacity, a White Oak Company
Finacity, a White Oak Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume in excess of $200 billion. With resources in the USA, Europe, Asia, and Latin America, Finacity conducts business throughout the world with obligors in 210 countries and territories. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.
For more information on this transaction, please contact:
FINACITY CORPORATION
Jayme Bulcão
US Tel.: +1 203 428 3527
Email: jbulcao@wofinacity.com
