Ares Leads $1.8 Billion Private Financing for AffiniPay Deal

Lenders led by Ares Management Corp. are set to provide a roughly $1.8 billion debt package to support Genstar Capital’s purchase of a stake in payments processor AffiniPay, according to people with knowledge of the matter.

Oak Hill Advisors is also among those helping finance the deal, said the people, who asked not to be identified as the details are private. The transaction will give Genstar a roughly 50% stake in AffiniPay, they said.

The package includes a $1.2 billion term loan as well as $300 million of preferred equity, the people said. The loan carries interest at ...