Intrum completes refinancing and co-investment of Real Estate portfolio purchased from Ibercaja Banco
Intrum has completed the refinancing of the Real Estate portfolio purchased in December 2018 from Ibercaja Banco S.A. and sold shares to its co-investment partner in line with its previously stated intentions.The portfolio has been refinanced with senior debt, at similar cost as Intrum’s overall financing cost. The financing is provided by Citibank (circa 65 per cent of portfolio value). Equity of €36M each is provided by Intrum and its co-investment partner. Ibercaja Banco retains a stake of €18M. Third party real estate management services will be provided by Intrum’s Spanish