Metrics Buys Disability Care Firm’s Loan at Over 90% Discount

Australian private credit firm Metrics Credit Partners Pty. has acquired a portion of a loan for disability services business OnCall Australia Group Pty. from the country’s largest annuities provider Challenger Ltd., according to people familiar with the matter.

A portion of the A$150 million ($96 million) loan was purchased at less than 10 cents to the Australian dollar, the people said, who asked not to be identified discussing private matters. Metrics is a co-lender alongside Challenger, they added.

Challenger declined to comment, while Metrics Partners didn’t respond to a request for comment.

The development underscores the risks associated with ...