July 2021 by Finacity
Stamford, 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).
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:
Tel: +1 (203) 428-3575
Structured Finance Asset Securitization
Cedric F. Probst
Tel: +1 (212) 745-1557