News Analysis: Awas goes to capital markets

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It was a decisive moment. On May 26, wanting to get back to his knife skills class, a birthday present from a close friend, Alan Stewart reluctantly took a call from a banker. Late at night, pacing up and down the halls of an industrial building, a week after Awas’s $530 million term loan launched - and in the thick of the Greek debt crisis - the chief financial officer (CFO) of Awas had to sign off on a final detail of the company’s first capital markets transaction before commitments were due. Since the deal officially closed on June 10, Stewart has decided to move on from the leasing sector and will be taking on the role of CFO for British retailer, Marks & Spencer. However, executing the lessor’s first capital markets transaction is a significant accomplishment both for Stewart personally and professionally. The $530 million six-year senior secured term loan refinanced......

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