14 November 2017, 11:26 CET
Axactor enters a new forward flow agreement to acquire unsecured Non Performing Loan (NPL) portfolio in Norway.
Oslo 14 November, 2017 - Axactor has entered an agreement to acquire portfolios on a monthly basis from an International Financial Institution. The portfolios contain freshly terminated B2C cases, allowing Axactor to manage the cases throughout the whole collection process. The cases are all B2C claims with an annual balance of around EUR 2 mill.
The portfolio commitment will further strengthen Axactor's base in the Norwegian market. The transaction is, according to Axactor's strategy for further NPL development.
This portfolio demonstrates our ability to enter markets commonly perceived as closed to new players. Using Axactor's focus on data and analysis, we expect this to be one of many acquisitions over the coming years", says Oddgeir Hansen, Axactor COO.
With different types off strong portfolios in all existing markets, The Axactor team once again shows that they have managed to position themselves within trade in the Nordic region says Robin Knowles, Axactor EVP Portfolio.
The acquisition will be financed by Axactor's available cash and our existing credit facilities.
For further information, please contact:
Chief Operating Officer
Cell Phone: +47 95 88 11 06
EVP Portfolio Acquisitions
Cell Phone: +44 7930 941 687