Asta Funding Increases Credit Facility

Jessica Perry//January 23, 2006

CEO says the increased funds available under the enhanced credit facility are being used to acquire additional receivables.Asta Funding (Nasdaq: ASFI) has expanded its credit facility to $125 million, up from $100 million. The facility, which is underwritten by a consortium of banks, has an accordion feature that enables Asta to increase the debt ceiling subject to certain requirements.

The Englewood Cliffs-based company specializes in the purchase, management and liquidation of performing and nonperforming consumer receivables. Gary Stern, Asta’s CEO, says the increased funds available under the enhanced credit facility are being used to acquire additional receivables. Shares of the company rose $0.11 to $29.47 in noon trading.

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