12 November 2018, 08:58 CET
Axactor closes large NPL acquisition with Global Financial Institution
Oslo, November 9th, 2018
Axactor Germany, has acquired a portfolio of unsecured consumer claims from a large Financial Institution. The portfolio contains 18.000 claims, with an outstanding principal value of approximately 80m Eur. The portfolio contains a significant number of existing payment arrangements, which mean the portfolio will have an immediate revenue impact in Axactor Germany.
Doris Pleil, country manager Germany, commented “This portfolio provides an immediate uplift in our current revenue generation and complements our new forward flow arrangements. The expectation is now to add further one-off acquisitions, as well as forward flow agreements, as we move into 2019”
Axactor plans to make this acquisition through their jointly owned SPV with Geveran and will finance the transaction using existing cash and credit facilities.
For additional information, please contact:
Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461