Acasta extends $150 mln credit facility to sell Stellwagen
Canadian private equity firm Acasta Enterprises has entered into an amending agreement to its US$150 million credit facility to facilitate the sale of Stellwagen Group Ltd, an Irish aviation finance advisory and asset management business. The agreement required that Acasta repay US$25 million to lenders by no later than March 1, 2018, the funding of which was to be derived from the sale. Stellwagen, which Acasta acquired last year, is being sold to Martello Finance Co Ltd in exchange for the cancellation of Acasta shares held by Martello and others plus US$35 million. Acasta will retain a US$47.4 million loan portfolio.
2 March 2018•2 mins read
