22 June 2017, 14:33 CEST

Axactor Group

Press release

Axactor has acquired its first secured portfolio in Spain

Oslo, 22 June 2017 - Axactor has purchased its first secured

transaction in Spain. The portfolio is being sold by a large

financial Institution and contains roughly 600 assets with an

Appraisal Value of around EUR 50m. This purchase will allow Axactor

to access another large and growing market, where the existing

business in Spain already has some of the competencies required to

manage large volumes both on its own portfolios as well as for third

party clients. The diversification is expected to offer significant

opportunities given the continued trend in portfolio sales to

include a variety of asset classes, both when Axactor is investing

on it's own or as part of a co-investment, where including secured

assets will make certain investments more attractive.

"This transaction has been an exciting project to expand the Axactor

model beyond the unsecured space and to allow the business to

benefit from the broader NPL market, not only in Spain but also

potentially across other European markets. This level of

diversification will allow the business to maintain the focus on

delivering healthy margins through access to a much broader number

of opportunities coming to market over the coming years. ", says

Endre Rangnes, CEO Axactor

"The Axactor team in Spain is delighted to close the first Secured

transaction for Axactor, demonstrating clearly the determination of

the team to develop the business across all NPL segments. The team

are also highly motivated to move into this new asset class,

increasing the profitability both on our owned assets and for our

third party servicing business.", says Andrés López and David

Martín, General Managers of Axactor Spain.

This transaction will be funded from existing cash and credit lines.

For additional information, please contact:

Endre Rangnes, CEO Axactor

Mobile phone: +47 4822 1111

Email: endre.rangnes@axactor.com


Geir Johansen, CFO & Investor Relations, Axactor

Mobile phone: +47 4771 0451

Email: geir.johansen@axactor.com