Finacity Facilitates USD-denominated Export Receivables Discount Program for Brazilian-Headquartered Wood Manufacturing Company
October 2017 by Finacity
Stamford, CT – 23rd October, 2017 – Finacity Corporation (“Finacity”) announced today that it has successfully facilitated a new trade receivables discount program on behalf of a Brazil-headquartered producer and exporter of wood-based finished products (the “Company”). The program will be initially used to discount receivables due from the Company’s open account clients in the USA, and it may in the future be expanded to accommodate additional obligors and countries, as needed. Though the Company is under “Recuperação Judicial” in Brazil (similar to Chapter 11 bankruptcy in the U.S.), Finacity was able to structure and implement an efficient USD-denominated funding program on very attractive terms and conditions and whose facility limit is designed to flexibly increase in concert with the Company’s export sales growth expectations.
About the Company
Founded in the early 1990s, the Company designs, manufactures and markets duly FSC-certified pine wood products, including, among others, doors/windows frames, various types of panels, and structural beams. Its client base comprises buyers located in North America and Europe.
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately USD 100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in 175 countries.
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