Collector Bank signs major new factoring agreement
Collector Bank has entered into a new, extensive factoring agreement with six of Valora International AG’s subsidiaries. Operations include factoring for Valora’s operations in Sweden, Norway, Finland and Den- mark. The agreement involves a new credit of approximately SEK 800m, corresponding to an annual fac- toring volume of approximately SEK 5,000m.
Valora International operates in the areas of food products, skincare and cosmetics. End customers include major grocery chains such as Axfood, SOK, Coop and Ica. Valora is a retailer of several well-known brands, including Pepsi and Kelloggs.
“This major new factoring transaction with an international solid player such as Valora is proof that our new export factoring product is in demand. In addition to liquidity and profound knowledge, we contribute speed, flexibility and strong systems support,” comments Stefan Alexandersson, CEO of Collector Bank, regarding the new agreement.
The agreement with Valora has a term of two years and enters into force in January 2016.
For further information, please contact:
Stefan Alexandersson, CEO, Collector I Phone +46 70 607 38 87 I Email stefan.alexandersson@collector.se
Clara Bolinder-Lundberg, IR Manager I Phone +46 70 719 84 43 I Email clara.bolinderlundberg@collector.se
This information is published pursuant to the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act or the rules and regulations of Nasdaq Stockholm. The information was submitted for publication on 9 December 2015. Stock exchange: Ticker symbol COLL
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