23 December 2016, 12:47 CET
Axactor acquires small unsecured portfolio from Caja Rural del Sur in Spain.
Axactor has acquired another
unsecured NPL portfolio generated by Caja Rural del Sur. The
portfolio includes unsecured loans with a total Outstanding
Balance (OB) of approximately EUR 55 million, across 2.000
The portfolio transaction although small provides clear
evidence of Axactor's ability to develop relationships with
clients who have not actively sold in the past.
"The Spanish team are pleased to close another Prime
transaction in 2016 and are looking forward to close more
opportunities in 2017", says Andres Lopez (Head of capital
"The local team have demonstrated their strong focus on
developing our product offering in Spain across a wider
audience and we expect this to be one of many transactions
over the next few years", says Robin Knowles, Axactor EVP
The investment will be financed by Axactor's available cash
and our existing credit facilities.
For further information, please contact:
Chief Executive Officer
Tel: +46 8 402 28 00
Cell Phone: +47 48 22 11 11
Chief Financial Officer
Cell Phone: +47 477 10 451
Axactor is addressing a large non-performing loan (NPL)
market in Europe. The market is estimated to around EUR 1.5
trillion and with a solid growth rate. The main growth
factors are partly driven by regulatory changes, sales
of non-performing loans and an accelerating trend of
outsourcing debt collection to specialized companies.
Furthermore, we see a consolidation trend in the debt
collection/debt purchase industry. Axactor's main focus in
the credit management value chain will be: amicable and legal
collection, surveillance and acquisition of NPLs.
Axactor was established in 2015 and has approximately 900