Press Releases
Finacity facilitates daily funding and reporting at an annual run rate of over $100 billion in receivables with obligors in more than 175 countries
Finacity and DZ Bank Facilitate a 3-Year USD $75 Million Receivables Securitization for Audacy, Inc. (NYSE: AUD)
Jul, 2021 byStamford, CT – July 16, 2021 – Finacity Corporation (“Finacity”) and DZ Bank AG Deutsche Zentral-Genossenschaftsbank (“DZ BANK”) announce that they have successfully launched a trade receivables securitization for Audacy, Inc. (“Audacy”), a New York Stock Exchange listed company headquartered in Philadelphia, PA. The 3-year facility is collateralized by Audacy’s billed and unbilled receivables for radio and podcast advertisements.
Finacity serves as the Transaction Administrator and provided analytic and structuring support to DZ BANK which serves as the Agent for the transaction and funded the transaction via its ABCP conduit Autobahn Funding Company LLC.
About Audacy, Inc
Audacy, Inc. (NYSE: AUD) is a scaled, multi-platform audio content and entertainment company with the country’s best radio broadcasting group, a leader in virtually every segment of audio, and America’s #1 creator of original, premium audio. Audacy engages over 170 million consumers each month, bringing people together around the news, sports, podcasts and music that matter to them. Learn more at www.audacyinc.com, Facebook (Audacy Corp) and Twitter (@AudacyCorp).
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, Latin America and Asia, Finacity conducts business throughout the world with obligors in 175 countries.
Learn more at www.finacity.com.
About DZ BANK
DZ BANK is the second largest bank in Germany and acts as central bank for approximately 800 cooperative banks with over 8,000 branches in Germany. DZ BANK’s New York based Structured Finance Asset Securitization unit offers specialty lender finance, structured asset and accounts receivable financing solutions for a wide variety of clients and asset types throughout North America.
For more information on this transaction, please contact:
FINACITY CORPORATION
Jair Martinez
Tel: +1 (203) 428-3575
jmartinez@finacity.com
DZ BANK
Structured Finance Asset Securitization
Cedric F. Probst
Tel: +1 (212) 745-1557
cedric.probst@dzbank.de
Finacity Facilitates the Upsize and Renewal of a $250 Million IFRS Off-Balance Sheet Securitization for Votorantim Cimentos North America
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.…
Finacity Facilitates a USD 30 Million Receivables-Based Loan Program for Novaria Holdings LLC with Synovus Bank
Finacity Corporation (“Finacity”), a White Oak Company, and Synovus Bank (“Synovus”) today announced that they have successfully arranged and closed a USD 30 million receivables-based loan program for Novaria Holdings…
Finacity Reaches Record Milestone: $1 Trillion of Trade Receivables Financed Over the Past 5 Years
Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated the funding of more than $1 trillion of trade receivables over the past 5 years on behalf…
Finacity Facilitates Increase and Expansion of Accounts Receivable Securitization Program to $1.5 Billion with a $1 Billion Accordion Feature for Bunge
Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated an increase from $1.1 billion to $1.5 billion of the commitment capacity, with an accordion feature of…
Finacity Facilitates MXN 1 Billion Securitization for Laboratorios Sanfer, S.A. de C.V.
Finacity Corporation (“Finacity”) announced that it has successfully launched a trade receivables securitization for Laboratorios Sanfer, S.A. de C.V. (“Sanfer”). The transaction amount is MXN 1 billion, it has a…