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.
For more information on this transaction please contact:
More recent news
Finacity Serves as Advisor on Dinerito Audaz US$10 million Consumer Loan Funding Program
Finacity Corporation (“Finacity”) is pleased to announce that it served as advisor to a new US$10 million loan funding program recently closed between Dinerito Audaz, S.A.P.I. de C.V. SOFOM, E.N.R ...
Finacity Renews a $152 Million IFRS Off-Balance Sheet Securitization for VCNA, Part of Brazilian Headquartered Votorantim Group
Finacity Corporation (“Finacity”) announced that it has successfully renewed the IFRS off-balance sheet trade receivables securitization for Votorantim Cimentos North America Inc. (“VCNA”). Th ...
Finacity Facilitates Increase to USD 800 million of Trade Receivable Funding for Bunge
Finacity Corporation (“Finacity”) today announced that it has assisted Bunge Limited (“Bunge”), a US-based leading global agribusiness and food company, in the USD 100 million increase of its ...