Axactor SE

Legal Proceedings Report • Mar 31, 2017

Axactor acquires a large unsecured non-performing loan (NPL) portfolio from Bank Norwegian in Sweden.

Axactor acquires a large unsecured non-performing loan (NPL) portfolio from Bank Norwegian in Sweden.

Oslo, 31 March 2017 - Axactor has acquired the largest unsecured NPL

portfolio since starting up in the fourth quarter of 2015. The

portfolio is originated by Bank Norwegian in Sweden and includes

unsecured credit with a total Outstanding Balance (OB) of

approximately EUR 105 million, across close to 15,200 open

accounts of individual loans and credit card debt. This portfolio

acquisition will increase Axactor's ERC by more than 30%.

The portfolio transaction is another primary market purchase, which

will secure a significant increase in the existing cash collection,

generated by Axactor's owned portfolios.

"This is our largest portfolio acquisition ever and will quantum leap

our business in Sweden, contributing to the strong and profitable

revenue growth in 2017 and future years. This Portfolio reinforces

Axactor's commitment to making Sweden a key market within the Group.

We are very honoured by the confidence Bank Norwegian has shown in

Axactor by granting us this contract.", says Endre Rangnes, Axactor

CEO.

"This acquisition demonstrates Axactor's ability to close key large

portfolio purchases in the Nordics. Taking account of the strong

portfolio pipeline outside of this transaction, we can expect many

more to follow across the group in 2017.", says Robin Knowles,

Axactor EVP Portfolio.

The investments will be financed by Axactor's available cash and our

existing credit facilities with a 50/50 split of equity/debt. Closing

of the transaction is expected to be 21st April.

For further information, please contact:

Endre Rangnes

Chief Executive Officer

Mail: endre.rangnes@axactor.com

Tel: +46 8 402 28 00

Cell Phone: +47 48 22 11 11

Geir Johansen

Chief Financial Officer

Mail: geir.johansen@axactor.com

Cell Phone: +47 477 10 451

About Axactor

Axactor Group specializes in both Debt Collection and Debt Purchasing

across several countries, with operations in Spain, Italy, Germany,

Norway and Sweden. 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. After the latest

acquisition of Profact AB in Sweden, Axactor has approximately 875

employees.