StoneCo. Announces $467.5 million credit facility from DFC to strengthen working capital of micro, small, and medium businesses
Summary
, (GLOBE NEWSWIRE) -- (Nasdaq: STNE; B3: STOC31) (Stone or the Company) announced that it has obtained a commitment of in the form of a revolving securitization facility from the (DFC), an agency of government. The facility, which has a final maturity of seven years, and a six-month availability period, acquires accounts receivables due by over twenty different non-systemic important Brazilian financial institutions that are credit card issuers, on a non-recourse basis. It will further strengthen Stones ability to offer prepayment of receivables to micro, small, and medium-sized businesses (MSMBs), which use the solution to optimize cash flow, financial flexibility and improve management. The closing of the transaction is subject to customary conditions precedents.Stones prepayment of receivables, including with the proceeds from the new DFC facility, supports retailers by enabling installment sales in a simple, agile way and with immediate liquidity. This new transaction reinforces the companys commitment to strengthening the entrepreneurship ecosystem in the country, focusing on supporting developing communities.is a leading provider of financial technology and software solutions that empower merchants to conduct commerce seamlessly across multiple channels and help them grow their businesses.This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.