Collector signs financing agreement with large European corporate group

Gothenburg, Sweden – Collector AB (publ.) (NASDAQ Stockholm: COLL). Collector Bank has agreed on terms for a financing agreement with one of Europe´s leading retail chains regarding factoring and stock financing. The total volume amounts to SEK 1,150 million. A principle agreement has been reached and complete agreements are expected within a few weeks.

This is the largest deal in Collector’s history and is the result of a process aimed at finding a competitive solution while minimizing risk. Collector has demonstrated its capacity to make cross-border factoring efficient in several major deals. Flexibility, efficient processes and strong systems support are key factors for these kinds of deals,” says Stefan Alexandersson, CEO of Collector. 

The proposed agreement has a term of three years and begins to apply in February 2017. 


For further information, please contact:
Stefan Alexandersson, CEO Collector I Phone +46 10 161 00 00 I stefan.alexandersson@collectorbank.se
Pia-Lena Olofsson, CFO & Head of IR Collector I Phone +46 10 161 00 00 I pia-lena.olofsson@collectorbank.se
Åsa Hillsten, CCO & IR Collector I Phone +46 10 161 00 00 I asa.hillsten@collectorbank.se 

This information is such that Collector AB is obliged to publish in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, on 28 October 2016 at 3:00 p.m. CET. Stock exchange: Ticker symbol COLL

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About Us

Collector is an innovative, digital, niche bank that offers financing solutions to private and corporate customers. Operations are comprised of the Retail and Corporate segments. Within the Retail segment, the company is engaged in lending to private individuals, invoice and payments by instalments to e-commerce and retail companies, credit card services and deposits. The Corporate segment includes real estate credits, factoring and company credits directed mainly at small and medium-sized enterprises, debt collection on behalf of customers (assignment debt collection) and the acquisition of portfolios of overdue receivables. The company has offices in Gothenburg (head office), Stockholm, Helsinki and Oslo. The Group consists of the parent company Collector AB (publ), wholly owned subsidiary Collector Bank AB, where the main business is conducted, Colligent Inkasso AB and Colligent Norge AS with business services and debt collection and Collector Ventures 1 KB with investments in Fintech. Collector AB (publ) is listed on Nasdaq Stockholm

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Quotes

This is the largest deal in Collector’s history and is the result of a process aimed at finding a competitive solution while minimizing risk. Collector has demonstrated its capacity to make cross-border factoring efficient in several major deals. Flexibility, efficient processes and strong systems support are key factors for these kinds of deals
Stefan Alexandersson, CEO of Collector