Lendify Sweden 2 AB (publ) acquires a second batch of loans and publish information on its loan portfolio
Lendify Sweden 2 AB (publ) acquires a second batch of loans from its parent company Lendify AB. The acquisition will be made in accordance with the terms and conditions for its SEK 400 million senior secured bonds and Lendify Sweden 2 AB (publ) will receive SEK 25 million in cash from Lendify AB distributed as unconditional shareholders contribution and subordinated debt in connection with the acquisition.
Lendify Sweden 2 AB (publ) publish the following information on its existing loan portfolio, describing more in detail the structure of the two acquired portfolios. Lendify Sweden 2 AB (publ) has acquired two of a maximum of up to three loan portfolios from its parent company Lendify AB. The pace of origination corresponds to an annualized amount of ca. SEK 1.5 billion. Early indications regarding credit losses for the portfolios acquired by Lendify Sweden 2 AB (publ) are aligned with the pre-set target of around 1.5% in net credit losses.
Acquired loan portfolios (number 1 and 2)
|Total nominal amount (SEK)||352,316,783|
|Average interest rate||7.5%|
|Average term (months)||115|
|Weighted Average UC score*||2.61%|
Risk distribution (at time of acquisition)
|Risk class||Percentage of outstanding nominal amounts
||Weighted UC score*
*The UC score represents the propensity, at time of loan origination, for a debtor to get a payment remark (Sw. betalningsanmärkning) within 12 months.
For further information, please contact: Erika Eliasson, Chief Investor Relations Officer tel. no.+46 (0)70 999 10 70
This information is information that Lendify Sweden 2 AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 7.30 CET on 11 May 2018.