Dayforce Inc.
Dayforce, Inc. Announces Securitization Program via Receivables Purchase Agreement
Summary
On September 13, 2024, Dayforce, Inc. entered into a Receivables Purchase Agreement with financial institutions and MUFG Bank, LTD., as administrative agent. The agreement enables Dayforce Receivables LLC and Dayforce Canada Receivables LP to sell up to $150 million in eligible receivables on a revolving basis. The Securitization Program involves both trade receivables and earned wage receivables, the latter of which is part of the Company's On-Demand Pay functionality. The receivables will be divided into a sold pool and a pledged pool, with the sold pool receivables removed from the Company's consolidated balance sheet. Dayforce, Inc. also entered into a Performance Undertaking with the Agent to ensure the due performance of the Receivables Documents by its subsidiaries.
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Exhibits (3)
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About Dayforce Inc.
Dayforce Inc. is a leading provider of comprehensive human capital management (HCM) solutions, operating within the software and technology sector. The company primarily develops and markets the Dayforce HCM platform, which integrates various human resources functions such as payroll, benefits, workforce management, and talent management into a single, cloud-based system. This integration allows businesses to streamline their HR processes, improve efficiency, and enhance employee experience through advanced data analytics and real-time updates. Serving a wide array of industries, Dayforce Inc. plays a critical role in helping organizations manage and optimize their workforce operations effortlessly. Its innovative platform is utilized by companies seeking to modernize their human resource functionalities and gain insightful analytics for strategic decision-making. Dayforce's market significance is underscored by its ability to adapt to the evolving needs of businesses, underscoring the shift towards digital solutions in HR management.
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