A$158m Debt Facility Replacement
On December 20, 2019, Pioneer Credit Limited ("Pioneer") announced it had entered into an agreement with its existing senior financiers and The Carlyle Group ("Carlyle"), under which Carlyle would acquire the existing A$130m senior debt outstanding. In addition, Carlyle would provide interim funding of A$28m to fund ongoing investment in Purchased Debt Portfolios, special dividend payment and working capital as required.
Carlyle is a global alternative asset manager with US$222 billion assets under management across 362 investment vehicles. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world’s largest and most successful investment firms, with more than 1,775 professionals operating in 33 offices across six continents. Since its inception in 1987, the firm has invested in more than 640 private equity transactions.