Afterpay Touch sign for US$300m receivables funding facility

Company News

by Rachael Jones

The Afterpay Touch Group (ASX:APT) has signed a US$300 million receivables funding facility with Citi to support the expansion of their business in the United States.

The new facility will provide Afterpay’s US business with access to external funding to support over US$4 billion in annual underlying US sales.

The new US facility complements the Company’s existing $500 million Australian receivables funding facility and NZ$20 million facility.

Shares in Afterpay Touch Group (ASX:APT) are trading 3.28 per cent higher at $27.74 .

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.