Stayco divestment completed, removing about $25 million of debt
Finexia Financial Group Limited (ASX: FNX) has completed the divestment of its interest in The Stay Company Income Fund (“Stayco”) on 15 October 2026. The update follows the company’s 16 September 2026 announcement.
The Stayco divestment is described as consistent with the company’s strategy of “exiting its non-core businesses.” For investors, it marks a concrete execution milestone in the divestment programme.
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What the transaction delivers
Balance sheet impact
According to the announcement, borrowings of approximately $25 million, comprising senior and subordinated debt, were satisfied or transferred from the Finexia consolidated group balance sheet. The announcement does not disclose a sale price, proceeds, or any gain or loss.
The practical effect is a simpler group structure carrying less debt.
| Fact | Impact |
|---|---|
| Divestment of Stayco interest completed on 15 October 2026 | Marks a milestone in the company’s divestment programme |
| Approximately $25M of senior and subordinated debt satisfied or transferred | Removed from the Finexia consolidated group balance sheet |
| All operational and management control over Stayco ceased | Simplifies the company’s structure |
Control and trustee transition
Finexia has ceased all operational and management control over Stayco. Finexia Securities Limited, the current trustee of Stayco, is in the process of transferring the trustee role to a new trustee.
The identity of the new trustee and the timing of the transfer were not disclosed. The company stated it will update the market once the transfer has been completed.
Understanding non-core divestments
A non-core divestment is the sale or exit of a business that sits outside a company’s main focus. Companies often pursue them to concentrate resources on the activities they consider central.
General benefits can include:
- A simpler corporate structure
- Reduced debt
- Sharper management focus
In Finexia’s case, the announcement points to the debt removed, the simplified structure and a “clear path forward” for Stayco’s investors.
What the Board said and what comes next
The Board considers the transaction to provide greater certainty for both Finexia shareholders and Stayco investors going forward. It described the completion as “a significant step towards the completion of the Company’s divestment program.”
The Directors of Finexia
“The transaction removes a significant level of debt from the Group’s balance sheet, simplifies the Company’s structure and provides a clear path forward for Stayco’s investors…”
The Directors also thanked Stayco’s investors and lenders for their support in bringing the transaction to completion. Next steps referenced in the announcement include:
- Completion of the trustee role transfer, with a market update to follow
- Completion of the remaining divestment programme
- Setting the company’s future direction
The announcement does not address which businesses remain, timelines, guidance or future strategy. For investors, the takeaway is a balance sheet with approximately $25 million less debt and a clearer corporate structure, with further updates to come.
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