15 December 2016, 08:00 CET
Axactor acquires the 6th unsecured Non Performing Loan (NPL) portfolio in Spain
The portfolio transaction is another primary market purchase as well as representing the company’s largest portfolio investment to date, securing a significant increase to the existing cash collection generated on Axactor’s owned portfolios.
“This is our 6th portfolio in Spain and with the existing paying book providing strong revenue growth as we move forward into 2017. This Portfolio also confirms Axactor’s commitment to making Spain a key market within the Group.”, says Endre Rangnes, Axactor CEO.
“The portfolio demonstrates Axactor’s ability to close key portfolio purchases, we 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.