GLAS supports successful $150m debt financing facility for Abacus Life
GLAS is pleased to have had the opportunity to work on a successful debt financing for Abacus Life.
Working alongside Sagard and Värde Partners, the GLAS Americas team played the roles of Administration Agent and Collateral Agent on the $150m debt financing facility.
The financing will be used to facilitate the organisation’s strategic objectives, provide the capital required to meet inventory demands, avoid raising incremental equity and strengthen its position as market leader in life settlements.
About Abacus Life
Abacus Life is a global alternative asset manager based in Orlando, Florida. The business specialises in uncorrelated financial products, leveraging longevity data and actuarial technology.
About GLAS
GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.
GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $450bn of assets under administration on a daily basis. For more information, please contact media@glas.agency.
