GEORGE TOWN, Grand Cayman, Dec. 18, 2023 (GLOBE NEWSWIRE) -- StoneCo Ltd. (NASDAQ:STNE, B3: STOC31)) ("Stone" or "the Company") announced that it has obtained a commitment of US$467.5 million in the form of a revolving securitization facility from the United States International Development Finance Corporation (DFC), an agency of the United States 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 Stone's 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.
Stone's 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. The focus of the facility is to support businesses that are women-led ...