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Axactor SE — Capital/Financing Update 2018
Aug 21, 2018
3549_rns_2018-08-21_119d824e-a4a1-4f2c-908d-643ce56478f8.pdf
Capital/Financing Update
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Axactor signs forward flow agreement in Sweden
Oslo, August 21th, 2018
Axactor has signed a forward flow contract for consumer credits with a mid-size European bank. The initial duration of the agreement is 12 months. Axactor will acquire micro loans with a total Outstanding Balance (OB) per annum of approximately EUR 7,2 million distributed on an estimate of 8200 cases.
"This forward flow agreement demonstrates Axactor's strong position generated by our ability to deliver customer value at a competitive level through operational excellence", says Lisa Sohtell, Country manager Axactor Sweden
Axactor plans to finance the transaction by use of available cash existing credit facilities.
For additional information, please contact: Johnny Tsolis, CFO Axactor Mobile phone: +47 913 35 461 Email: [email protected]
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 nonperforming 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 900 employees.
For additional information, please contact: Johnny Tsolis, CFO, Axactor Mobile phone: +47 913 35 461 Email: [email protected]
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 nonperforming 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 900 employees.