Resurs Bank expands its financing
Resurs Holding has successfully expanded its existing ABS financing from SEK 2.1 billion to SEK 2.9 billion through its subsidiary Resurs Bank. This further strengthens Resurs’s diversified financing.
An agreement to extend and expand the existing ABS financing was signed on 15 January 2018. It comprises a securitisation of consumer loans, a form of structured financing, referred to as Asset Backed Securities (ABS).
The expansion entails that on the settlement date of 22 January 2018 Resurs Bank will securitise consumer loans corresponding to a carrying amount of approximately SEK 3.7 billion, compared with SEK 2.7 billion previously. The extension means that a new 18-month revolving period has now commenced.
This financing will take place with the assistance of a leading international bank.
Resurs Holding (Resurs), which operates through the 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 Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.5 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the third quarter of 2017, the Group had 752 employees and a loan portfolio of SEK 23.2 billion. Resurs is listed on Nasdaq Stockholm, Large Cap.