trending Market Intelligence /marketintelligence/en/news-insights/trending/0KRfY-UELN_C0OwJIpCuDg2 content esgSubNav
In This List

Asta Funding sells structured settlement financing unit

Blog

Banking Essentials Newsletter May 29th Edition

Blog

Managed Services Insights: The client lifecycle management solution

Blog

Technology & Automation Insights: Elevating KYC and onboarding efficiency

Blog

Banking Essentials Newsletter: May 15th Edition


Asta Funding sells structured settlement financing unit

Asta Funding Inc. sold all of the issued and outstanding equity capital of its subsidiary CBC Settlement Funding LLC for roughly $10.5 million under a securities purchase agreement with CBC Holdings LLC.

Of the total amount, roughly $4.5 million was paid in cash and $5.8 million will be paid under a promissory note at an annual interest rate of 7% to be paid quarterly and to be secured. The remaining amount was paid as reimbursement of certain invoices of CBC Settlement.