Karachi December 10 2024: TRG International invested US$15 million in the recapitalized Afiniti in the form of a second-lien convertible debt instrument to maintain its percentage holding, according to TRG Pakistan filing to the Pakistan Stock Exchange.
TRG Pakistan Limited has been informed by its associate The Resource Group International Limited (TRGI) that TRGI portfolio company Afiniti, Ltd., a global customer experience and artificial intelligence provider, has successfully completed its financial restructuring and recapitalization transaction with its secured lenders, led by Vista Credit Partners. This transaction was initially announced by the Company through its PSX disclosure on September 20, 2024, and was recently completed following court approvals in Bermuda and the United States.
As part of the transaction, as contemplated by the definitive transaction agreements, TRGI has invested US$15 million in the recapitalized Afiniti in the form of a second-lien convertible debt instrument, pari passu with other secured lenders who own the same convertible debt. At closing, the Company’s indirect economic interest in Afiniti, through TRGI, is expected to be substantially retained in percentage terms, on an as-converted, fully-diluted basis, subject to certain adjustments from rights issue subscription and the future value of unvested warrants.
Afiniti is a leading provider of customer experience (CX) artificial intelligence (AI). Our AI optimization services, and infrastructure deliver measurably better business outcomes for some of the largest enterprises in the world. Our technology is used globally in the healthcare, telecommunications, hospitality, insurance, and banking industries, and across multiple customer experience channels.
