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 a leading digital niche bank that develops financial solutions for private and corporate customers. For the private market, we offer savings and loans, invoicing and installment, credit card services and financial apps. The corporate segment encompasses payment solutions for e-commerce and retail, factoring and corporate lending, real estate credits and assignment debt collection. With an annual organic revenue growth of 30 % since 2005, we have the persistence, courage and experience required to believe in ideas and help get them off the ground. The Group consists of the parent company Collector AB (publ), the wholly owned subsidiary Collector Bank AB, where the main operations are conducted, Colligent Inkasso AB and Colligent Inkasso AS, offering assignment operations and debt collection, and Collector Ventures, which invests in FinTech. The company has offices in Gothenburg (head office), Stockholm, Helsinki and Oslo. Collector 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