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Apex Trader Funding - News

Finacity Facilitates the Upsize and Renewal of a $250 Million IFRS Off-Balance Sheet Securitization for Votorantim Cimentos North America

STAMFORD, Conn., April 05, 2024 (GLOBE NEWSWIRE) -- 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. ("VCNA"). The transaction allows for up to $250 million in funding of the senior tranche through the securitization of VCNA's U.S. and Canadian receivables. Finacity served as structuring agent and coordinating the renewal process on behalf of the company. Finacity serves as the ongoing Administrator and provider of reporting services for the program. About Votorantim Cimentos VCNA is the North American subsidiary ...