10 March 2020

Axactor Italy

Axactor Italy purchases a new paying npl portfolio from a leading italian financial institution

Axactor Italy, part of the International Axactor Group, a leading player in the Italian Credit Management market with over twenty years of experience in the sector, announces that it has purchased a new portfolio of NPL credits, unsecured type with payment agreements already active by a leading Italian financial institution.

The purchase of the portfolio contains over 3,000 positions for a total value of approximately 25 million of Euro and the transaction is expected to be closed in March.

This tranche is in continuity with that already purchased in the fourth quarter of 2019 by the same institution which contained approximately 7,000 positions with an outstanding balance of approximately 60 million of Euro and with payment agreements already active, whose closing took place in December 2019.

Antonio Cataneo, CEO of Axactor Italy commented: “We are very pleased to be able to announce this new purchase which shows Axactor's willingness to focus on revenue growth again in this 2020. The fact this goal has been achieved thanks to the collaboration of an existing customer makes us happier".

The purchase will be financed with existing credit lines and own funds.

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Antonio Cataneo

CEO Axactor Italy