Axactor SE

Business and Financial Review • Nov 16, 2018

Axactor adds another forward flow agreement with a new client in Norway

Axactor adds another forward flow agreement with a new client in Norway

Oslo, November 16th 2018

Axactor Norway has complemented their existing forward flow agreements, by adding a new large financial institution to the list of clients it acquires fresh NPL volumes from. The contract period is 18 months, with an option to extend for a further 6 months. The total expected outstanding balance sold will be up to 22 mEUR across 12.500 claims.

“Norway continues to succeed in adding new volumes from high quality sellers. This contract when combined with the existing volumes, will help us to deliver significant growth in Norway in 2019.” says Stina Koren, Country manager for Axactor Norway.

This investment will be financed through Axactor’s available cash and our existing credit facilities.

For additional information, please contact:

Johnny Tsolis, CFO, Axactor

Mobile phone: +47 913 35 461

Email: johnny.tsolis@axactor.com

About Axactor

Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for non-performing loans (NPL) in Europe. This market is estimated to be about 1,500 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 950 employees.