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.
About Bunge
At Bunge (NYSE: BG) the purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, Bunge works to strengthen global food security, increase sustainability where it operates, and help communities prosper. As the world’s leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, Bunge values its partnerships with farmers to bring quality products from where they’re grown to where they’re consumed. At the same time, Bunge collaborates with its customers to develop tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Bunge has its registered office in Geneva, Switzerland and its corporate headquarters in St. Louis, Missouri. Bunge has approximately 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.
About Finacity, a White Oak Company
Finacity, a White Oak Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume in excess of $200 billion. With resources in the USA, Europe, Asia, and Latin America, Finacity conducts business throughout the world with obligors in 175 countries. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.
For more information on this transaction, please contact:
Finacity Corporation
Thomas Heslenfeld
Tel: +1 203-428-3519
Email: theslenfeld@wofinacity.com
