Hoist Finance acquires landmark portfolio in Italy
Hoist Finance has today acquired a landmark portfolio in Italy comprising non-performing unsecured consumer loans from the Italian consumer credit subsidiary of a major international bank. The transaction is part of the strategic expansion of Hoist Finance’s presence in the Italian market following the acquisition of the portfolio and platform for the long-term servicing partner, TRC SpA, earlier this year. The transaction value is not disclosed.
“The transaction is an important milestone and represents further evidence to our strategy of becoming the leading debt restructuring partner to large international banks and financial institutions. It will add significant scale and will further strengthen our presence in Italy,” says Clemente Reale, Head of Hoist Finance Italy.
About Hoist Finance
Hoist Finance is a trusted debt restructuring partner to global banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. The total carrying value of Hoist Finance’s acquired loans was approximately EUR 800 million as at 30 September 2014.
Hoist Finance is a Pan-European debt purchase company with presence in eight European markets. Hoist Kredit AB (publ) is licensed and regulated by the Swedish Financial Supervisory Authority, and is funded by the internet-based savings deposit service HoistSpar in Sweden, with more than 60,000 accounts, and by senior and subordinated unsecured bonds of in total SEK 1.1 billion as well as EUR 100 million in senior unsecured bonds, listed on Nasdaq Stockholm.
The information above has been published pursuant to the Swedish Securities Markets Act (Sw. lag om värdepappersmarknaden) and Swedish Financial Instruments Trading Act (Sw. lagen om handel med finansiella instrument).
This information was released for publication at 18.00 CET on 15 December 2014.
For further information, please contact:
Anne Rhenman Eklund, Group Head of Communications and IR Hoist Finance
Contact details:
Phone +46 (0)8 55 51 77 90
Email: anne.rhenman-eklund@hoistfinance.com