Axactor acquires another large unsecured NPL Portfolio in Spain

Madrid, 6th June 2019

Axactor has closed its largest one-off transaction in 2019, with Banco Santander. The purchase is an unsecured portfolio with an outstanding balance of approximately 600mEUR across more than 145.000 claims. The portfolio comes with a significant number of paying cases, increasing the existing revenue with immediate effect.

“This acquisition follows the communicated strategy of opportunistically purchasing unsecured portfolios around the group, when they complement the existing assets and generate an immediate financial impact." say Endre Rangnes, CEO, Axactor Group.

 “This portfolio is the second large portfolio we have acquired from this Financial Institution in Spain and we are looking forward to building on the good experience we have had collecting on claims of this high quality." say David Martín and Andrés López, General Directors of Axactor Spain.

Axactor plans to make this acquisition through their jointly owned SPV with Geveran and will finance the transaction using existing cash and credit facilities.

About Axactor
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden, Finland and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for non-performing loans (NPL) in Europe. This market is estimated to be about 1,000 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 1100 employees.

For additional information, please contact:
Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com