Daily News: May 7, 2019

Crystal Financial Agents $72MM Facility for Ashley Park


Crystal Financial, in partnership with affiliates of Solar Capital Partners, closed a C$97.5 million ($72.4 million) senior credit facility for Ashley Park Operations (APOC).

Proceeds from the transaction will be used to refinance existing debt and provide a return of capital to existing shareholders.

“We take tremendous pride in delivering products and services to customers throughout Canada and their lenders to support home ownership. The Crystal Financial-SCP team has the same focus and dedication to streamlined execution and delivering excellence as we do for our clients. We have enjoyed working with them and look forward to a mutually beneficial partnership,” said Kathy Gregory, founding president and CEO of Ashley Park.

Solar Capital Partners is a private credit asset manager with direct sourcing and structuring expertise across a range of senior secured cash flow and asset-based lending solutions to middle market companies primarily in the U.S.

APOC, through its operating subsidiary, is a Canadian mortgage underwriting and servicing business process outsourcing company.