Stone Raises Funding for Its Credit Solution, Advancing in the Strategic Roadmap of Its Full Financial Platform While Limiting Credit Risk Exposure
StoneCo Ltd. - Class A Common Share (STNE)
Company Research
Source: GlobeNewswire
SÃO PAULO, Brazil, Jan. 14, 2021 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE) (“Stone”), a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels, today announces that it has completed the issuance of R$580 million in FIDC (“Fundo de Investimento em Direitos Creditórios”) quotas, raising R$493 million in third-party capital for its credit solution for SMBs in Brazil. The new credit FIDC is structured with senior and mezzanine quotas held by institutional investors for a 36-month period, while Stone holds the subordinated quotas. The senior quotas reached R$348 million with a brAAA rating and yield of CDI (basic interest rate) + 4% per year. The mezzanine quotas reached R$145 million with a brBBB rating and yield of CDI + 7% per year. The subordinated quotas held by Stone totaled R$87 million. Despite the first issuance of a new FIDC product usually having a higher cost than an operation in steady state,
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- StoneCo Ltd. (NASDAQ: STNE) had its price target lowered by analysts at Barclays PLC from $18.00 to $17.00. They now have an "equal weight" rating on the stock.MarketBeat
STNE
Earnings
- 3/18/24 - Beat
STNE
Sec Filings
- 4/24/24 - Form 20-F
- 4/23/24 - Form 6-K
- 3/21/24 - Form 6-K
- STNE's page on the SEC website