Fluence Energy, Inc. (FLNC): debt financing — Fluence Energy enters $75M receivables purchase agreement with Credit Agricole

Fluence Energy, Inc.

Fluence Energy, LLC subsidiary signed Master Receivables Purchase Agreement with Credit Agricole Corporate and Investment Bank on Feb 27, 2024.
Outstanding Purchased Receivables capped at $75M; CACIB purchases on an uncommitted, case-by-case basis.
Discount rate set at 1.7% per annum for the initial account debtor; other rates mutually agreed.
Fluence intends to pass the purchase discount cost to customers offering extended payment terms.
Either party may terminate the agreement with 30 days' prior written notice, with security interest granted to CACIB.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Fluence Energy, Inc. incurred credit facility of $75.0 million with Credit Agricole Corporate and Investment Bank at 1.7% per annum.

Instrument: credit facility
Principal: $75.0 million
Counterparty: Credit Agricole Corporate and Investment Bank
Rate: 1.7% per annum
Event: incurrence

Exact text from the filing

bruary 27, 2024, Fluence Energy, LLC ("Fluence"), a wholly-owned subsidiary of Fluence Energy, Inc., entered into a Master Receivables Purchase Agreement, by and among Fluence and any other seller from time to time party thereto, as sellers and servicers, and Credit Agricole Corporate and Investment Bank ("CACIB"), as purchaser (the "Agreement").

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fluence Energy, Inc. entered into Master Receivables Purchase Agreement with Credit Agricole Corporate and Investment Bank valued at $75.0 million (effective 2024-02-27).

Action: entry
Agreement: credit facility
Counterparty: Credit Agricole Corporate and Investment Bank
Value: $75.0 million
Effective: 2024-02-27

Exact text from the filing

Master Receivables Purchase Agreement On February 27, 2024, Fluence Energy, LLC ("Fluence"), a wholly-owned subsidiary of Fluence Energy, Inc., entered into a Master Receivables Purchase Agreement, by and among Fluence and any other seller from time to time party thereto, as sellers and servicers, and Credit Agricole Corporate and Investment Bank ("CACIB"), as purchaser (the "Agreement").

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Fluence Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001868941-24-000017

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