May 2017 by Finacity
Treasury Today awarded Votorantim Cimentos N.A. (“VCNA”), a fully owned subsidiary of Brazilian headquartered Votorantim Cimentos S.A. (“VCSA”), with the 2017 “Adam Smith Award” for Best Funding Solution, related to a US$152 million IFRS off-balance sheet trade receivables securitization program facilitated by Finacity.
“Finacity is pleased to have been the Arranger, Administrator and an Investor in a successful receivable securitization on behalf of VCNA that has been honored with a Treasury Today ‘Adam Smith Award’ for Best Funding Solution” said Adrian Katz, Chief Executive Officer at Finacity.
VCNA is the North-American subsidiary of international building materials supplier, Votorantim Cimentos, one of the ten largest providers of cement, concrete, aggregates and mortar in the world, and part of the Votorantim Group, one of Brazil’s largest industrial conglomerates with a presence in more than 20 countries. VCNA oversees the Group’s cement, ready mix concrete and aggregate operations in North America, which include, among others, St. Marys Cement Inc. (SMC), a leading manufacturer of cement, concrete and aggregates in the United States and Canada.
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 and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. For further information, please visit finacity.com.
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