Resurs Bank expands its financing
Resurs Holding has previously announced that it is working to diversify its financing. Resurs Holding already has three major sources of financing through its subsidiary Resurs Bank: deposits from the public via savings accounts, a Medium Term Note (MTN) programme and Asset Backed Securities (ABS) financing.
As part of this work, Resurs Bank AB (publ) has expanded and extended its existing ABS financing, which comprises a securitisation of consumer loans, a form of structured financing, also referred to as Asset Backed Securities.
In the initial ABS financing that took place in June 2015, consumer loans amounting to a carrying amount of approximately SEK 1.8 billion were securitised. The financing is now being expanded to approximately SEK 2.7 billion and Resurs Bank with a new revolving period of 18 months..
For Resurs Bank, this means that external financing will be extended from SEK 1.4 billion to SEK 2.1 billion.
This financing will take place with the assistance of a leading international bank.
More information is available from:
Peter Rosén, CFO, email@example.com, +46 706 367578
Gunilla Wikman, Investor Relations Manager, firstname.lastname@example.org, +46 707 638125
About Resurs Holding The Resurs Group, which operates through subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs has established collaborations with over 1,200 retail partners with approximately 35,000 stores and built a customer base of approximately 5 million private customers in the Nordics. Resurs Bank has had a bank charter since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group, with operations in Sweden, Denmark, Norway and Finland, had around 720 employees and a loan portfolio of more than SEK 19.6 billion at the end of the second quarter of 2016. Resurs has been listed on Nasdaq Stockholm since 29 April 2016.