October 2015
Ashley Park Financial Services Corp.
Canaccord Genuity acts as sole agent in cross border debt financing for Ashley Park Financial Services Corp.
Canaccord Genuity is pleased to announce that on October, 8 2015 it completed a cross border debt financing, acting as Sole Agent for Ashley Park Financial Services Corp.
The proceeds from the offering were used to fund a dividend recapitalization for the management team and parent company, a US-based private equity sponsor. The Canadian denominated debt was placed with a large US-based private debt fund with global capabilities. The offering also provided an unfunded acquisition facility.
Ashley Park is privately owned Canadian mortgage services company. The Company is the 3rd largest mortgage servicer in Canada with offices in Toronto, Vancouver, and Montreal.
This transaction is a strong example of the broad reach, capabilities and cross border collaboration across the Canaccord Genuity global platform. The Canadian offering was well received by a number of US private debt funds and allowed Ashley Park to raise a higher amount of debt than initially expected at attractive terms.