Axactor acquires secured NPL Portfolio in Spain

Madrid, 10th May 2019

Axactor Spain has closed another transaction with a financial institution. The purchase is a secured portfolio with an unpaid balance of approximately 40mEUR, containing 276 claims with more than 300 first charge collaterals. The portfolio represents the first sale of secured credits by this financial institution in the Spanish Market.
 
“Following a long period of focusing on unsecured NPL portfolios, Axactor is very pleased to close this small secured transaction, which originated from the same client as the recent unsecured portfolio closed in April. The transaction demonstrates Axactor is still focused on all NPL asset classes, providing our clients with solutions for all their NPL needs in addition to the usual 3PC services.” says David Martín and Andrés López, General Directors of Axactor Spain.

Axactor plans to finance this acquisition by use of available cash existing credit facilities.

About Axactor
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Finland, Italy, Germany, Norway, Sweden 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