STAMFORD, Conn., March 19, 2024 (GLOBE NEWSWIRE) -- – Finacity Corporation (“Finacity”), a White Oak Company, and Synovus Bank (“Synovus”) today announced that they have successfully arranged and closed a USD 30 million receivables-based loan program for Novaria Holdings LLC (“Novaria”), a leading manufacturer of specialty aerospace hardware. Finacity acted as the administrator providing structuring and execution support and is responsible for the ongoing program administration and reporting. Synovus acted as the lender and facility agent.

About Novaria
Novaria Group is a privately held business focused on precision component companies that deliver optimum performance and sustainable growth within the aerospace and defense marketplace. For more information on Novaria’s business units, please visit www.novariagroup.com. 

About Synovus
Synovus Bank, a Georgia-chartered, FDIC-insured bank with approximately $60 billion in assets, provides commercial and consumer banking as well as a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. Synovus has branches in Georgia, Alabama, South Carolina, Florida and Tennessee and has been named one of the Best Banks in America by Forbes. For more information on Synovus, please visit www.synovus.com or, for more information about Synovus’s role in this transaction, please contact Steven Safirstein at StevenSafirstein@synovus.com.

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 more than 210 countries and territories. 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

Jason Kim
Tel: +1 203-428-3520   
Email: JKim@WOFinacity.com