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Axactor has acquired an unsecured NPL portfolio originally
generated by a Spanish local savings bank.
The portfolio includes unsecured loans with a total
Outstanding Balance (OB) of approximately EUR 500 million
and more than one hundred thousand open accounts of
Individuals and SMEs. Axactor will pay around 3% of the
Outstanding Balance.
“The transaction is an important milestone and represents an
evidence of our strategy of becoming the leading credit
management services partner to large international banks,
financial institutions and funds. The portfolio will add
significant scale to our amicable collections center in
Valladolid and to our legal collection entity. With this
contract we will further strengthen our presence in Spain”,
says Endre Rangnes, Axactor CEO.
The investments will be financed by Axactor’s available cash
and our bank credit facilities.
“With the very competitive funding vehicle we have
established, and with our lean cost structure, we are well
positioned to gain new business in Spain and other countries
in Europe”, says Geir Johansen, Axactor CFO.
For additional information, please contact:
Geir Johansen, CFO & Investor Relations, Axactor
Mobile phone: +4747710451
Email: geir.johansen@axactor.com
www.axactor.com