Collector enters into a new factoring and inventory financing agreement with Office Depot

Collector bank has entered into a new extensive factoring and inventory financing agreement with Office Depot Svenska AB. The transaction involves Office Depot’s operations in Sweden. The agreement concerns a new credit facility of approximately SEK 200 million. The factoring volume amounts to SEK 400 million per year.

Office Depot Svenska AB is owned by Office Depot Sweden (Holding AB), which in turn is owned by Office Depot Netherlands BV. The company was founded in 2008 though the acquisition of the former company AGE Kontor & Data. The company is headquartered in Solna, outside Stockholm, with a logistics centre in Strängnäs.

"Office Depot’s European operations have been acquired by Aurelius, the German private equity firm that acquired Valora a year ago. Valora then became Collector’s foremost factoring customer. Aurelius is again relying on us for their financing, and we view this as recognition of the fact that also customers with operations outside Sweden appreciate our skills and our ability to adapt to our customers’ needs.” Lena Apler, Founder and Chairman, Collector

The agreement with Office Depot Svenska AB has a term of two years and enters into force in January 2017.

For further information, please contact:
Lena Apler, Founder & Chairman I Phone +46 70-525 65 80 I E-mail lena.apler@collectorbank.se
Åsa Hillsten Eklund, CCO & IR I Phone +46 70-081 81 17 I E-mail asa.hillsteneklund@collectorbank.se

Tags: