Finacity Facilitates Increase and Expansion of Accounts Receivable Securitization Program to $1.5 Billion with a $1 Billion Accordion Feature for Bunge
STAMFORD, Conn., Jan. 03, 2024 (GLOBE NEWSWIRE) -- 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 an additional $1 billion, for the Accounts Receivable Securitization Program (“Program”) of Bunge Global SA (“Bunge”), a leading global agribusiness and food company.
- STAMFORD, Conn., Jan. 03, 2024 (GLOBE NEWSWIRE) -- 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 an additional $1 billion, for the Accounts Receivable Securitization Program (“Program”) of Bunge Global SA (“Bunge”), a leading global agribusiness and food company.
- As part of the process, Finacity also supported the addition of 2 new seller countries, Mexico and Poland, and 7 new subsidiary company originators for Bunge in its Program.
- Pricing for the Program includes premiums or discounts to the applicable margin tied to certain sustainability criteria, including, but not limited to, science-based targets (SBTs) that define Bunge’s climate goals within its operations and a commitment to a deforestation-free supply chain in 2025.